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Memphis, TN 38122 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: 0.00
ActiveActive listings: 6666PendingPending sales: 00
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): $167k$167kSoldMedian sold price (last 6 months): $126k$126k
What homes actually sell for in Memphis, TN
Distribution of 198 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $80k to $190k
$47k to $76k: 29 sales$47k$76k to $104k: 36 sales36sales$104k to $132k: 30 sales$104k$132k to $161k: 32 sales$161k to $190k: 12 sales$161k$190k to $218k: 12 sales$218k to $246k: 17 sales$218k$246k to $275k: 11 salesMedian $126k

What the numbers say

As of October 26, 2026, Resideline is tracking 66 active listings and 0 pending sales in ZIP code 38122. That pending-to-active ratio of 0.00 makes it a slower-moving market: listings are going under contract more slowly than in most ZIP codes Resideline tracks, which usually gives buyers more room to negotiate.

The median asking price of current listings is $166,915, while the median of the 198 closed sales Resideline tracked over the last six months was $126,500. 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 38122 for 99 days.

Frequently asked questions

What is the median home price in 38122?

The median closed sale price in Memphis, TN 38122 was $126,500 over the last six months, based on 198 closed sales tracked by Resideline. The middle half of those sales ranged from $80,000 to $190,000.

Is 38122 a buyer's or seller's market?

Resideline is currently tracking 0 pending sales against 66 active listings in 38122, a pending-to-active ratio of 0.00. 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, 38122 is currently a slower-moving market.

Nearby ZIP code market data

Full Memphis, TN housing market report →

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