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Memphis, TN 38122 Housing Market

Data snapshot: October 5, 2026. Closed-sale window: last 6 months.
Memphis, TN inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.03
ActiveActive listings: 5959PendingPending sales: 22
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): $170k$170kSoldMedian sold price (last 6 months): $125k$125k
What homes actually sell for in Memphis, TN
Distribution of 208 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $80k to $185k
$42k to $71k: 31 sales$42k$71k to $100k: 41 sales41sales$100k to $129k: 26 sales$100k$129k to $158k: 30 sales$158k to $188k: 19 sales$158k$188k to $217k: 13 sales$217k to $246k: 15 sales$217k$246k to $275k: 12 salesMedian $125k

What the numbers say

As of October 5, 2026, Resideline is tracking 59 active listings and 2 pending sales in ZIP code 38122. That pending-to-active ratio of 0.03 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $169,900, while the median of the 208 closed sales Resideline tracked over the last six months was $125,000. 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 38122 for 91 days.

Frequently asked questions

What is the median home price in 38122?

The median closed sale price in Memphis, TN 38122 was $125,000 over the last six months, based on 208 closed sales tracked by Resideline. The middle half of those sales ranged from $80,000 to $185,000.

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

Resideline is currently tracking 2 pending sales against 59 active listings in 38122, a pending-to-active ratio of 0.03. 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, 38122 currently looks like a balanced market.

Nearby ZIP code market data

Full Memphis, TN housing market report →

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