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All market snapshots / 38127

Memphis, TN 38127 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: 0.06
ActiveActive listings: 119119PendingPending sales: 77
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): $100k$100kSoldMedian sold price (last 6 months): $75k$75k
What homes actually sell for in Memphis, TN
Distribution of 340 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $65k to $105k
$31k to $54k: 39 sales$31k$54k to $77k: 118 sales118sales$77k to $100k: 75 sales$77k$100k to $123k: 27 sales$123k to $146k: 19 sales$123k$146k to $169k: 12 sales$169k to $192k: 13 sales$169k$192k to $215k: 3 salesMedian $75k

What the numbers say

As of October 26, 2026, Resideline is tracking 119 active listings and 7 pending sales in ZIP code 38127. That pending-to-active ratio of 0.06 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 $99,901, while the median of the 340 closed sales Resideline tracked over the last six months was $75,000. 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 38127 for 79 days.

Frequently asked questions

What is the median home price in 38127?

The median closed sale price in Memphis, TN 38127 was $75,000 over the last six months, based on 340 closed sales tracked by Resideline. The middle half of those sales ranged from $64,900 to $105,000.

Is 38127 a buyer's or seller's market?

Resideline is currently tracking 7 pending sales against 119 active listings in 38127, a pending-to-active ratio of 0.06. 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, 38127 is currently a typical-pace market.

Nearby ZIP code market data

Full Memphis, TN housing market report →

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