San Antonio, TX 78232 Real Estate Market Report

ZIP Code: 78232
Report Date: May 2026
Market Temperature: NEUTRAL
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

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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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 78232 area are averaging 6.3%, consistent with the broader market trends observed throughout early 2026.

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. median sold price $348,000 is the primary indicator of market value and recent transaction activity in 78232, suggesting modest appreciation consistent with a flat year-over-year price trend and a neutral market temperature.

2. There is a clear spread between median listing price $395,000 and median sold price $348,000, which may indicate pricing friction where seller expectations exceed recent transaction levels and could give well-priced listings an advantage in negotiations.

3. median days on market 106 points to slower sales velocity relative to historically brisk periods, which, combined with elevated inventory relative to sales activity, suggests buyers have more time to evaluate listings and may extract concessions.

4. median market rent $1,425 and a flat rent year-over-year trend indicate rent stability; coupled with a median price per square foot $186, this supports near-term hold strategies for owners but argues for cautious underwriting given moderate interest rate pressure at 6.3% on 30-year fixed mortgages.

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Notable Properties

The following 4 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.