San Antonio, TX 78228 Real Estate Market Report

ZIP Code: 78228
Report Date: May 2026
Market Temperature: COLD
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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 Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

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Key Findings

1. The primary market anchor is the $150,500 median sold price, which signals realized transaction values are materially below asking levels and should be used as the primary indicator of neighborhood value when assessing comps and offers.

2. There is a meaningful gap between the $205,000 median listing price and the $150,500 median sold price, which appears to reflect pricing friction and may indicate seller expectations exceeding recent transaction levels; combined with the cold market temperature this suggests sellers may need to adjust expectations to reestablish a clearing price.

3. Sales velocity is slow as indicated by the 147 median days on market, which points to longer time-to-contract and down price momentum; this slower liquidity appears consistent with elevated inventory relative to sales activity and elevated interest rate pressure impacting affordability.

4. Price per unit area and rental context reinforce weaker near-term performance: the $144 median price per square foot and $1,300 median market rent, together with down rent year-over-year trend and elevated interest rate pressure, suggest limited near-term upside and underline caution for investors and sellers considering hold-or-list strategies.

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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.