San Antonio, TX 78228 Real Estate Market Report

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

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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 market around 6.25% to 6.51% are slightly above the low-end 2026 projections near 6.0%, suggesting property owners locked in favorable terms if their origination was at the lower end of the 2026 forecast range.

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. $191,000 is the median sold price, indicating a 8% decrease since 2022, reflecting a challenging market environment.

2. The median days on market is 200, suggesting a slower sales velocity and longer timeframes for properties to sell.

3. With a median listing price of $217,000, there is a notable gap between asking prices and sold prices, indicating potential pricing friction.

4. The market temperature is neutral, suggesting a balance between supply and demand, but with elevated inventory levels relative to sales activity.

5. Rental rates are softening year-over-year, with a median market rent of $1,631, which may influence buyer decisions and overall market dynamics.

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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.