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All market snapshots / 38104

Memphis, TN 38104 Housing Market

Data snapshot: October 26, 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: 7171PendingPending 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): $299k$299kSoldMedian sold price (last 6 months): $255k$255k
What homes actually sell for in Memphis, TN
Distribution of 191 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $179k to $390k
$92k to $172k: 32 sales$92k$172k to $252k: 50 sales50sales$252k to $332k: 31 sales$252k$332k to $412k: 28 sales$412k to $492k: 12 sales$412k$492k to $572k: 7 sales$572k to $652k: 11 sales$572k$652k to $732k: 1 salesMedian $255k

What the numbers say

As of October 26, 2026, Resideline is tracking 71 active listings and 2 pending sales in ZIP code 38104. That pending-to-active ratio of 0.03 makes it a slower-moving market: listings are going under contract more slowly than in most ZIP codes Resideline tracks, which usually gives buyers more room to negotiate.

The median asking price of current listings is $299,000, while the median of the 191 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 108 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 191 closed sales tracked by Resideline. The middle half of those sales ranged from $179,075 to $390,000.

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

Resideline is currently tracking 2 pending sales against 71 active listings in 38104, a pending-to-active ratio of 0.03. Resideline tracks a sample of pending sales, so the ratio is most useful as a comparison: across the 3,777 ZIP codes Resideline tracks, the middle half run from 0.05 to 0.11. A higher ratio means listings go under contract faster, which usually favors sellers; a lower one gives buyers more room. By that comparison, 38104 is currently a slower-moving market.

Nearby ZIP code market data

Full Memphis, TN housing market report →

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