Start Free
All market snapshots / 38104

Memphis, TN 38104 Housing Market

Data snapshot: October 5, 2026. Closed-sale window: last 6 months.
Memphis, TN inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.03
ActiveActive listings: 7272PendingPending sales: 22
Memphis, TN: what sellers ask vs what buyers pay
Median asking price of current listings vs median closed sale price over the last six months
AskingMedian asking price (current listings): $279k$279kSoldMedian sold price (last 6 months): $255k$255k
What homes actually sell for in Memphis, TN
Distribution of 199 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $182k to $390k
$92k to $168k: 30 sales$92k$168k to $243k: 49 sales49sales$243k to $318k: 33 sales$243k$318k to $394k: 30 sales$394k to $469k: 12 sales$394k$469k to $544k: 15 sales$544k to $620k: 8 sales$544k$620k to $695k: 3 salesMedian $255k

What the numbers say

As of October 5, 2026, Resideline is tracking 72 active listings and 2 pending sales in ZIP code 38104. That pending-to-active ratio of 0.03 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $279,450, while the median of the 199 closed sales Resideline tracked over the last six months was $255,000. Those two figures describe different sets of homes, so any gap between them reflects the mix of what is listed now versus what recently sold, not a negotiating discount. Resideline has been seeing the median active listing in 38104 for 88 days.

Frequently asked questions

What is the median home price in 38104?

The median closed sale price in Memphis, TN 38104 was $255,000 over the last six months, based on 199 closed sales tracked by Resideline. The middle half of those sales ranged from $182,315 to $390,000.

Is 38104 a buyer's or seller's market?

Resideline is currently tracking 2 pending sales against 72 active listings in 38104, a pending-to-active ratio of 0.03. Ratios of 0.6 or higher usually indicate a seller's market, 0.35 to 0.6 a competitive market, and lower values a more balanced one. By that yardstick, 38104 currently looks like a balanced market.

Nearby ZIP code market data

Full Memphis, TN housing market report →

Running a deal in 38104? Free tools: ARV calculator · rehab cost estimator · BRRRR calculator · wholesale calculator

Run any 38104 address through Resideline
Free account. Includes 3 full property reports with comps, ARV and rent estimates.