San Antonio, TX 78232 Real Estate Market Report

ZIP Code: 78232
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: 78232) is characterized by a median sold price of $399,000, reflecting a recalibration in market dynamics. The neighborhood has decreased 8% since 2022, indicating a softening trend in home values. This decline in sold prices suggests that buyers are facing a more favorable environment, albeit with some pricing friction as sellers adjust expectations to align with current market conditions.

Market activity shows signs of moderation, with median days on market at 203, indicating a slower sales velocity. Elevated inventory levels are present, suggesting excess supply relative to sales activity. The market temperature is currently neutral, which may indicate a balanced environment where buyer and seller expectations are aligning, although the presence of elevated inventory could lead to further adjustments in pricing as the market stabilizes.

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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

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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 78232 area around 5.875% are notably lower than the 6.87% average seen one year ago, indicating a cost opportunity for refinancing.

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 is $399,000, reflecting a significant adjustment in market values.

2. Home prices have decreased 8% since 2022, indicating a softening trend in the local market.

3. With median days on market at 203, the market is experiencing slower sales velocity, suggesting potential pricing adjustments.

4. Elevated inventory levels indicate excess supply relative to sales activity, which may pressure prices further.

5. The median market rent stands at $1,880, which may influence buyer decisions as affordability improves with moderating interest rates.

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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.