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All market snapshots / 38109

Memphis, TN 38109 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: 0.02
ActiveActive listings: 8484PendingPending 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): $95k$95kSoldMedian sold price (last 6 months): $80k$80k
What homes actually sell for in Memphis, TN
Distribution of 242 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $55k to $120k
$24k to $52k: 46 sales$24k$52k to $80k: 65 sales65sales$80k to $109k: 39 sales$80k$109k to $137k: 34 sales$137k to $165k: 19 sales$137k$165k to $194k: 8 sales$194k to $222k: 5 sales$194k$222k to $250k: 2 salesMedian $80k

What the numbers say

As of October 5, 2026, Resideline is tracking 84 active listings and 2 pending sales in ZIP code 38109. That pending-to-active ratio of 0.02 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $95,000, while the median of the 242 closed sales Resideline tracked over the last six months was $80,000. 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 38109 for 79 days.

Frequently asked questions

What is the median home price in 38109?

The median closed sale price in Memphis, TN 38109 was $80,000 over the last six months, based on 242 closed sales tracked by Resideline. The middle half of those sales ranged from $55,000 to $120,000.

Is 38109 a buyer's or seller's market?

Resideline is currently tracking 2 pending sales against 84 active listings in 38109, a pending-to-active ratio of 0.02. 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, 38109 currently looks like a balanced market.

Nearby ZIP code market data

Full Memphis, TN housing market report →

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