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Memphis, TN 38111 Housing Market

Data snapshot: October 26, 2026. Closed-sale window: last 6 months.
Memphis, TN inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.09
ActiveActive listings: 9999PendingPending sales: 99
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): $210k$210kSoldMedian sold price (last 6 months): $155k$155k
What homes actually sell for in Memphis, TN
Distribution of 314 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $87k to $275k
$45k to $119k: 108 sales108sales$45k$119k to $194k: 75 sales$194k to $268k: 36 sales$194k$268k to $342k: 30 sales$342k to $417k: 13 sales$342k$417k to $491k: 14 sales$491k to $566k: 6 sales$491k$566k to $640k: 3 salesMedian $155k

What the numbers say

As of October 26, 2026, Resideline is tracking 99 active listings and 9 pending sales in ZIP code 38111. That pending-to-active ratio of 0.09 makes it a typical-pace market: listings are going under contract at about the pace of most ZIP codes Resideline tracks.

The median asking price of current listings is $209,900, while the median of the 314 closed sales Resideline tracked over the last six months was $155,000. 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 86 days.

Frequently asked questions

What is the median home price in 38111?

The median closed sale price in Memphis, TN 38111 was $155,000 over the last six months, based on 314 closed sales tracked by Resideline. The middle half of those sales ranged from $87,000 to $275,000.

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

Resideline is currently tracking 9 pending sales against 99 active listings in 38111, a pending-to-active ratio of 0.09. Resideline tracks a sample of pending sales, so the ratio is most useful as a comparison: across the 3,777 ZIP codes Resideline tracks, the middle half run from 0.05 to 0.11. A higher ratio means listings go under contract faster, which usually favors sellers; a lower one gives buyers more room. By that comparison, 38111 is currently a typical-pace market.

Nearby ZIP code market data

Full Memphis, TN housing market report →

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