Published October 4, 2026 in Market Update

San Antonio prices nudged up, but this North SA market is still split

By Scott Peck

Real estate, Tier 3 Established North SA Core - Equity rich owners, no build compettition, Strategy not propety p

Redfin reported that San Antonio home prices rose 0.9% month over month in August. That sounds steady. But inside this North SA market, the Real Estate Data Aggregator tells a more complicated story for the three months ending July 31, 2026.

One ZIP code saw prices climb 14.3%. Another fell 11.6%. Those two numbers are not a typo. They are the same market, the same three months, and they mean very different things depending on where your home sits.

The market-wide picture first

The Real Estate Data Aggregator counted 448 homes sold across the six ZIP codes in this North SA market. Sales were up just 1.8% from a year ago. Inventory fell 6.3%. On the surface, that looks balanced. Dig one level deeper and the split becomes clear.

The ZIP codes that are moving

ZIP 78023 is the standout. The Real Estate Data Aggregator put the median sale price at $480,000, up 14.3% from a year before. Homes there sold in a median of 34 days, which was 21 days faster than the same period last year. Nearly 4 in 10 homes went under contract within two weeks. Supply dropped to 3.5 months. That is a market where well-priced homes are not sitting long.

ZIP 78248 tells a similar speed story. The Real Estate Data Aggregator showed 68 homes sold, up 23.6% from a year ago. Pending sales jumped 32.1%. Median days on market was just 33 days, five days faster than last year. Supply sat at 3 months. Prices dipped 2.6% to $574,500, but the activity numbers point to real demand.

ZIP 78232 moved 120 homes in the period, the highest count in this market. The Real Estate Data Aggregator showed sales up 11.1% and pending sales up 9.2%. Supply was 3.5 months. Nearly 43% of homes went under contract within two weeks. Prices did dip 7.4% to $379,500, so buyers have a little room to work with there.

The ZIP codes where patience matters more

ZIP 78231 is the one that needs honest attention. The Real Estate Data Aggregator recorded a median sale price of $435,207, down 11.6% from a year before. That is the steepest price drop in this market. Only 26 homes sold, down 7.1%. Inventory climbed 30%. Homes sat a median of 47 days, which was 14 days longer than last year. The share of homes going under contract within two weeks fell nearly 25 points. That is a lot of change in one year.

ZIP 78255 also deserves a closer look. Prices rose 4% to $566,750, which is good news. But homes sat a median of 55 days, up 13 days from last year. Supply is at 6 months, which is the highest in this market. More listings came in, up 30.6%, so buyers there have options and they know it.

ZIP 78259 landed in the middle. The Real Estate Data Aggregator put the median sale price at $415,000, down just 1.2%. Homes sold in 41 days, one day faster than last year. But sales volume fell 26.4% and pending sales dropped 27.5%. Fewer homes are moving even though prices held fairly steady.

How the ZIP codes compare side by side

What the broader picture adds

Redfin reported that U.S. home prices rose 3.7% year over year in August, the fastest annual growth rate in a year. That national tailwind is real. But Realtor.com reported that mortgage rates topped 7% in September 2026. Rates at that level slow buyer decisions, especially in ZIP codes where supply is already rising.

That rate pressure shows up in another number worth knowing. Realtor.com reported that 67.9% of rentals in the San Antonio-New Braunfels area offered concessions in August 2026. When renting comes with deals attached, some buyers feel less urgency to purchase. That matters most in the ZIP codes where supply is already climbing.

The Federal Housing Finance Agency reported that U.S. house prices rose 2.1% year over year between the second quarter of 2025 and the second quarter of 2026. The quarter-over-quarter gain was just 0.3%. Slow and steady nationally, but this North SA market is not moving as one.

CNBC reported that collective tappable home equity in the second quarter reached $11.5 trillion. Owners in established North SA neighborhoods have built real equity over the years. That equity gives you options, but only if your pricing plan matches what is actually happening in your specific ZIP code right now.

One street really can read differently from the whole ZIP code. A home on the quieter end of a neighborhood can sit longer or sell faster than the number above suggests. If you want to know where your home actually lands, that is worth a closer look.