Ready to take a look at the real estate marketing 78248? So far, we’ve covered quite a few zip codes: 78232, 78247, 78249, 78250, 78257, 78258, 78259, 78260, and 78261. We’ll continue covering more as long as you keep asking for them!
We start of course, with our reminder that the stats aren’t the only factor we take a look at when pricing your home for sale. There is a lot more that goes into it. The statistics we show are a good starting point and will give you the knowledge to know what we’re shooting for, but if you want to find out what your home is worth, it’s best to consult with an agent who can come visit your home, take notes, learn more about your home, look at the statistics, and put together a full comparative market analysis.
The 78248 Zip Code
This zip code occupies an area of only 3.92 square miles, but it packs a lot into its small footprint. Located to the east of Shavano Park, the 78248 zip code is roughly outlined by Loop 1604 to the north, Blanco Road to the east, and then up and along the Salado Creek to the west. It encompasses neighborhoods like Deerfield, Blanco Woods, and Inwood.
Note: These statistics are based off of data from the San Antonio Board of Realtors and Realtors Property Resource. They were pulled on October 22, 2024.
How’s The Real Estate Market 78248?
First, let’s look at the Months Supply of Inventory, which is currently at 3.93. This indicates that at the current rate of sales, it would take approximately 3.93 months to sell all the available homes on the market. This is slightly lower than what it normally considered a balanced market (between 4-6 months), but still very close. This would indicate a slight advantage to sellers, but it’s also worth noting that it has come down month over month, which could indicate a downward trend (and a trend toward Seller’s Market).
If you’ve spent any time on this website, you know we don’t love estimated home values (things like the Zestimate), but we do look at them for big picture numbers and stats. These estimated property values are from Realtors Property Resource. Why are we showing this graph? To point out that value has risen over the years despite various ups and downs. It’s important to remember that waiting to time the market or get the right interest rate can actually wind up costing you more than you might pay today.
It’s also worth noting that prices in 78248 are relatively higher than San Antonio, Bexar County, or Texas, but follow a very similar arc.
The 12-Month Change in Months of Inventory is +50%, showing an increase in inventory over the past year. This could potentially lead to a more competitive market for sellers, as there are more options available to buyers.
The Median Sold Price is $535,000, giving both buyers and sellers an idea of the average price of homes in the market. This can help sellers determine a fair asking price for their home and help buyers understand what they can expect to pay. It pays to remember, this is the Median Price – the exact middle between the highest price and the lowest price. We prefer this metric over Average Price as it tends to give a better depiction of the values.
The Median Days Homes are On the Market is 18, indicating that homes are selling relatively quickly in this market. This is good news for sellers, as it suggests high demand and a competitive market. This is one of the fastest paced zip codes we’ve seen in awhile, but as you can see, it’s been erratic through the year.
When looking at a metric like this, we encourage agents to dig deeper and ask the simple question, “Why?” Sometimes the answer to that reveals more than the statistic does.
Finally, the List to Sold Price Percentage is 98.9%, showing that homes are typically selling very close to their listing price. This is a positive indicator for sellers, as it suggests that they are pricing their homes accurately and that buyers are willing to pay close to the asking price.
As we have noted before though, it is often good to look at this compared to the Original ListPrice to Sold Price Percentage, as price reductions are not factored into this stat. This is a great example of why you should seek knowledgeable, qualified professionals when selling your home.
Get More Real Estate Market 78248 Info
What Does It All Mean
While 78248 is leaning toward a seller’s market, it is still performing pretty well. Median home prices are up, days on market are down – things that sellers love to see. Buyers can find this frustrating though as they will have to pay top dollar and still fend off other buyers to get to the best homes. Because there are several popular neighborhoods (and sub-neighborhoods for places like Deerfield and Inwood), sales should remain strong in the area.
