Start Free
All market snapshots / 38111

Memphis, TN 38111 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: 0.07
ActiveActive listings: 9191PendingPending sales: 66
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): $205k$205kSoldMedian sold price (last 6 months): $161k$161k
What homes actually sell for in Memphis, TN
Distribution of 326 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $89k to $275k
$50k to $121k: 109 sales109sales$50k$121k to $192k: 75 sales$192k to $264k: 36 sales$192k$264k to $335k: 37 sales$335k to $406k: 16 sales$335k$406k to $478k: 12 sales$478k to $549k: 7 sales$478k$549k to $620k: 2 salesMedian $161k

What the numbers say

As of October 5, 2026, Resideline is tracking 91 active listings and 6 pending sales in ZIP code 38111. That pending-to-active ratio of 0.07 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $205,000, while the median of the 326 closed sales Resideline tracked over the last six months was $161,000. 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 38111 for 79 days.

Frequently asked questions

What is the median home price in 38111?

The median closed sale price in Memphis, TN 38111 was $161,000 over the last six months, based on 326 closed sales tracked by Resideline. The middle half of those sales ranged from $89,000 to $275,000.

Is 38111 a buyer's or seller's market?

Resideline is currently tracking 6 pending sales against 91 active listings in 38111, a pending-to-active ratio of 0.07. 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 balanced market.

Nearby ZIP code market data

Full Memphis, TN housing market report →

Running a deal in 38111? Free tools: ARV calculator · rehab cost estimator · BRRRR calculator · wholesale calculator

Run any 38111 address through Resideline
Free account. Includes 3 full property reports with comps, ARV and rent estimates.