Memphis, TN Housing Market 2026: Inventory, Demand, and Prices Right Now
A current read on the Memphis real estate market: 309 active listings, 95 pending sales, a median sold price of $165,000, and what the demand ratio says about where the market is leaning.
If you invest in or around Memphis, the question is not just what a home is worth. It is how much competition you face, how fast inventory moves, and where you have leverage. Here is the current read on the Memphis market, built from live listing data and recent closings, as of July 2026.
The snapshot
- •Active listings: 309
- •Pending sales: 95
- •Median list price: $198,170
- •Median age of active listings: 68 days
- •Closed sales tracked, last 6 months: 2,139
- •Median sold price, last 6 months: $165,000
What the numbers say
Memphis is one of the more balanced markets on this list. With 95 pending against 309 active listings, buyers have more selection and more leverage than in the tightest metros. Patience and a disciplined offer pay off here, and an accurate value keeps you from anchoring to a seller's price. One more texture point: the median active listing in Memphis has been on the market about 68 days. Fresh inventory churns fast; listings that age past that midpoint are where negotiation room usually lives.
The single cleanest demand signal is the ratio of pending sales to active listings, currently about 0.31 in Memphis. When that ratio climbs toward 1.0, homes are going under contract as fast as new ones are listed and the market tightens. When it falls, inventory builds and buyers gain leverage. It says more about where the market is heading than any headline price number, because it measures what buyers are doing right now.
What sellers ask vs what buyers pay
Read this chart carefully, because it is the most misused number in real estate. The asking median covers the homes listed right now; the sold median covers what actually closed. A wide gap does not mean sellers are cutting prices by that amount. It usually means today's inventory is a different mix of homes than what trades. Either way, the lesson for an offer is the same: anchor to closed comps, not asking prices.
Where Memphis sale prices land
Medians hide the shape of a market. The distribution above covers the 2,142 closed sales Resideline tracked in Memphis over the last six months, trimmed to the 5th through 95th percentile, with the middle half of sales closing between $86,250 and $275,000. Where your target property sits inside that spread matters more than the citywide median.
The Memphis angle
Memphis has long been a cash-flow market, anchored by the logistics and distribution employers that support steady rental demand, and the current numbers fit that identity. The median asking price across the 309 active listings is just under $200,000, while the median closed price over the past six months, across 2,139 sales, was $165,000. Some of that gap is a difference in what is listed versus what actually traded, but it is still a useful warning: in Memphis, the asking price is an opening position, not a value. Demand is present without being frantic. There are 95 homes under contract against those 309 active listings, about one pending deal for every three homes for sale, and the typical listing on the market today has been sitting for 68 days. For an investor, that combination favors patience. Underwrite from closed comparable sales, not list prices, and treat aged inventory as room to negotiate rather than a reason to stay away.
From market read to offer price
A market read is the backdrop. The decision still comes down to one property and one number: what it is actually worth and what you should pay. Every Resideline report opens with this same market snapshot for the subject's exact ZIP code, then gives you the property's value, the sold comps behind it, and a market rent estimate.
And we show our work. Every estimate is frozen while the home is for sale and graded against the real closing price after it sells. The public scoreboard currently shows 2.79% median error across 2,455+ graded closings, across 50 states. See the live accuracy dashboard for the receipts, or read how the Area Market Snapshot works.
Run any Memphis address through Resideline and you will see the local market and the property's value together, in one report.
Frequently Asked Questions
Is Memphis a buyer's or seller's market in 2026?
As of July 2026, Memphis is a relatively balanced market. There are 309 active listings against 95 pending sales, a pending-to-active ratio of about 0.31.
What is the median home price in Memphis?
The median sold price in Memphis over the last 6 months is $165,000, and the median asking price of homes currently for sale is $198,170.
Why is the median sold price in Memphis lower than the median list price?
Recent closed sales in Memphis show a median of $165,000, while today's active listings ask a median of about $198,000. Part of that spread reflects a different mix of homes listed versus sold, and part reflects sellers testing prices in a market where the typical active listing has already sat for 68 days. Either way, base your offer on closed comparable sales rather than asking prices.
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