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All market snapshots / 38111

Memphis, TN 38111 Housing Market

Data snapshot: August 3, 2026. Closed-sale window: last 6 months.
Memphis, TN inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.58
ActiveActive listings: 3131PendingPending sales: 1818
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): $165k$165k
What homes actually sell for in Memphis, TN
Distribution of 349 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $95k to $285k
$50k to $124k: 111 sales111sales$50k$124k to $199k: 75 sales$199k to $273k: 52 sales$199k$273k to $348k: 34 sales$348k to $422k: 20 sales$348k$422k to $496k: 13 sales$496k to $571k: 7 sales$496k$571k to $645k: 2 salesMedian $165k

What the numbers say

As of August 3, 2026, Resideline is tracking 31 active listings and 18 pending sales in ZIP code 38111. That pending-to-active ratio of 0.58 points to a competitive market: a meaningful share of the inventory is already under contract.

The median asking price of current listings is $204,900, while the median of the 349 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 2 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 349 closed sales tracked by Resideline. The middle half of those sales ranged from $95,000 to $285,000.

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

Resideline is currently tracking 18 pending sales against 31 active listings in 38111, a pending-to-active ratio of 0.58. 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.

Nearby ZIP code market data

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