Memphis, TN 38111 Housing Market
- Active listings35currently for sale
- Pending sales19under contract
- Median asking price$174,900current listings
- Inventory age4 daysmedian time the current active listings have been on the market
- Closed sales tracked (6 mo)338a tracked sample, not a market total
- Median sold price$165,000last 6 months
- Middle half of sold prices$93k to $280k25th to 75th percentile
What the numbers say
As of July 18, 2026, Resideline is tracking 35 active listings and 19 pending sales in ZIP code 38111. That pending-to-active ratio of 0.54 points to a competitive market: a meaningful share of the inventory is already under contract.
The median asking price of current listings is $174,900, while the median of the 338 closed sales Resideline tracked over the last six months was $165,000. 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. The median active listing in 38111 has been on the market for 4 days.
Frequently asked questions
What is the median home price in 38111?
The median closed sale price in Memphis, TN 38111 was $165,000 over the last six months, based on 338 closed sales tracked by Resideline. The middle half of those sales ranged from $92,751 to $280,000.
Is 38111 a buyer's or seller's market?
Resideline is currently tracking 19 pending sales against 35 active listings in 38111, a pending-to-active ratio of 0.54. 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, 38111 currently looks like a competitive market.