San Antonio, TX 78228 Real Estate Market Report

ZIP Code: 78228
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the real estate market in San Antonio, TX (ZIP: 78228) is characterized by a median sold price of $199,000, reflecting a recalibration in market dynamics. The neighborhood has decreased 8% since 2022, indicating a softening trend in property values. This decline, coupled with elevated interest rates, has led to a more selective buyer environment, resulting in slower sales velocity and increased days on market, currently averaging 201 days.

The market is experiencing elevated inventory levels, with a notable gap between the median listing price of $225,000 and the median sold price. This discrepancy suggests that sellers may need to adjust their expectations to align with current buyer sentiment. The overall market temperature remains neutral, indicating a balance between supply and demand, although the elevated interest rate pressure is contributing to a more cautious approach among potential buyers.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the San Antonio TX 78228 market at 5.75% are 0.25% higher than typical 2026 origination rates around 5.50%.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $199,000 reflects a decrease of 8% since 2022, indicating a softening market.

2. With a median days on market of 201, the market is experiencing slower sales velocity, suggesting buyers are taking longer to make decisions.

3. The median listing price stands at $225,000, creating a notable gap with the sold price, which may indicate pricing friction for sellers.

4. Current median market rent is $1,631, which has also seen a down trend year-over-year, contributing to overall affordability concerns.

5. The market temperature is neutral, suggesting a balanced state despite elevated interest rate pressure affecting buyer activity.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.