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All market snapshots / 38111

Memphis, TN 38111 Housing Market

Data snapshot: September 14, 2026. Closed-sale window: last 6 months.
Memphis, TN inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.08
ActiveActive listings: 101101PendingPending sales: 88
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): $230k$230kSoldMedian sold price (last 6 months): $162k$162k
What homes actually sell for in Memphis, TN
Distribution of 337 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $90k to $285k
$50k to $124k: 112 sales112sales$50k$124k to $199k: 73 sales$199k to $273k: 47 sales$199k$273k to $348k: 29 sales$348k to $422k: 19 sales$348k$422k to $496k: 14 sales$496k to $571k: 7 sales$496k$571k to $645k: 3 salesMedian $162k

What the numbers say

As of September 14, 2026, Resideline is tracking 101 active listings and 8 pending sales in ZIP code 38111. That pending-to-active ratio of 0.08 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $229,500, while the median of the 337 closed sales Resideline tracked over the last six months was $162,000. 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 62 days.

Frequently asked questions

What is the median home price in 38111?

The median closed sale price in Memphis, TN 38111 was $162,000 over the last six months, based on 337 closed sales tracked by Resideline. The middle half of those sales ranged from $90,000 to $285,000.

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

Resideline is currently tracking 8 pending sales against 101 active listings in 38111, a pending-to-active ratio of 0.08. 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

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