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Memphis, TN 38117 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: 0.11
ActiveActive listings: 8585PendingPending 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): $235k$235kSoldMedian sold price (last 6 months): $275k$275k
What homes actually sell for in Memphis, TN
Distribution of 334 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $193k to $445k
$120k to $236k: 126 sales126sales$120k$236k to $352k: 77 sales$352k to $469k: 38 sales$352k$469k to $585k: 12 sales$585k to $701k: 26 sales$585k$701k to $818k: 15 sales$818k to $934k: 4 sales$818k$934k to $1.05M: 4 salesMedian $275k

What the numbers say

As of September 14, 2026, Resideline is tracking 85 active listings and 9 pending sales in ZIP code 38117. That pending-to-active ratio of 0.11 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $235,000, while the median of the 334 closed sales Resideline tracked over the last six months was $275,000. 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 38117 for 70 days.

Frequently asked questions

What is the median home price in 38117?

The median closed sale price in Memphis, TN 38117 was $275,000 over the last six months, based on 334 closed sales tracked by Resideline. The middle half of those sales ranged from $193,000 to $445,000.

Is 38117 a buyer's or seller's market?

Resideline is currently tracking 9 pending sales against 85 active listings in 38117, a pending-to-active ratio of 0.11. 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, 38117 currently looks like a balanced market.

Nearby ZIP code market data

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