78228
San Antonio, Texas

ZIP code 78228 in San Antonio shows measured appreciation with the median sale price reaching $186,000, up 9.4% year-over-year, outpacing national inflation but trailing the metro's hottest submarkets. Homes are moving at a moderate pace, averaging 72.5 days on market, while only 12% of properties close above asking price. This limited bidding premium indicates buyer leverage has returned after the post-pandemic frenzy, creating a more balanced negotiating environment than San Antonio experienced in 2021-2023.

The current conditions favor cost-conscious first-time buyers and cash-flow investors seeking sub-$200,000 entry points without intense competition. With 88% of sales closing at or below list price and homes sitting for over two months, buyers can conduct thorough due diligence and negotiate repairs or concessions. Traditional owner-occupants benefit most, as the 9.4% annual appreciation supports equity building while the extended days-on-market metric eliminates pressure to waive contingencies or overbid.

The PropIQ score of 65 signals caution regarding sustained price momentum, suggesting the current appreciation rate may not persist through 2026. Investors should monitor whether days-on-market extends beyond 80 days, which would indicate softening demand and potential price compression. The lack of multiple-offer scenarios—evident in the 12% above-ask figure—means sellers entering this market must price accurately from listing day rather than relying on competitive bidding to elevate final sale values.