How the San Antonio Housing Market Affects Your Property Appraisal

If you live in Bexar County, it’s important to understand how broader real estate trends in the San Antonio area can directly impact your property tax appraisal. Even if your own home hasn’t changed, market activity in your neighborhood or zip code can drive up your property’s assessed value—and your tax bill along with it.

A Look Back at 2024: What Happened in the San Antonio Housing Market?

The San Antonio housing market in 2024 experienced a noticeable cooling trend, with several indicators pointing to a shift toward a more balanced market:

• Median Home Price: The median price declined slightly, dropping approximately 1.5% year-over-year to $298,000 by the end of 2024.
• Sales Volume: Total home sales in the area fell by about 10% compared to 2023, reflecting affordability issues and hesitation due to high mortgage interest rates.
• Inventory: Housing inventory grew, with nearly 4 months of supply available by Q4—giving buyers more options and slowing price growth.
• Days on Market: Homes stayed on the market an average of over 60 days, a clear sign that demand was softening.

While this cooling trend may not seem like a major event, it plays a critical role in how the Bexar Appraisal District (BCAD) evaluates property values.

How BCAD Uses Market Data

BCAD determines your home’s appraised value based on its estimated market value as of January 1 each year. That estimate is largely shaped by sales data from the previous year, meaning 2024’s numbers will directly impact your 2025 appraisal.

Even with a cooling market, certain neighborhoods in San Antonio still saw price increases or maintained higher values due to demand, development, or school district quality. If your home is in one of these areas, your appraisal may not reflect the regional decline.

Key Factors That Can Affect Your Appraisal:

• Recent Sales: BCAD may use comparable sales from your neighborhood—even if your home is older or in worse condition.
• Gentrification and Development: New builds, commercial growth, or renovations nearby can raise land values in older neighborhoods.
• Improvements: Additions or upgrades like pools, patios, or renovations may not go unnoticed in appraisal adjustments.

What You Can Do If Your Appraisal Seems Too High

If your 2025 appraisal comes in higher than expected, don’t panic. You have the right to protest, and market data from 2024 can work in your favor.

Here’s how to fight back:

• Pull Comparables: Look for similar homes that sold in 2024 with lower prices or longer days on the market.
• Document Home Condition: If your home has deferred maintenance or hasn’t been updated, show how it compares to the comps BCAD might use.
• Use SABOR Data: Referencing credible sources like the San Antonio Board of Realtors (SABOR) can strengthen your case.

Why Market Trends Don’t Always Tell the Whole Story

Even though the market softened overall, BCAD’s appraisal process uses mass appraisal models that may miss specific property conditions. That’s why it’s so important to review your appraisal notice and protest if you see inaccuracies or inflated values.

Ballard Property Tax Protest Can Help You Leverage the Data

At Ballard Property Tax Protest, we specialize in building evidence-backed cases that reflect both broader market trends and your unique property situation. We stay up to date on local data, understand how BCAD applies it, and know how to make the strongest case for a reduction.

Let us help you use the 2024 market cooldown to your advantage.

Schedule a free consultation today and let’s work together to ensure your 2025 property tax bill is fair and accurate.

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