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All market snapshots / 38128

Memphis, TN 38128 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: 0.09
ActiveActive listings: 7575PendingPending 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): $124k$124kSoldMedian sold price (last 6 months): $126k$126k
What homes actually sell for in Memphis, TN
Distribution of 235 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $92k to $175k
$51k to $78k: 22 sales$51k$78k to $105k: 50 sales50sales$105k to $132k: 45 sales$105k$132k to $160k: 36 sales$160k to $187k: 23 sales$160k$187k to $214k: 15 sales$214k to $241k: 13 sales$214k$241k to $268k: 8 salesMedian $126k

What the numbers say

As of September 14, 2026, Resideline is tracking 75 active listings and 7 pending sales in ZIP code 38128. That pending-to-active ratio of 0.09 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $124,000, while the median of the 235 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 38128 for 70 days.

Frequently asked questions

What is the median home price in 38128?

The median closed sale price in Memphis, TN 38128 was $126,500 over the last six months, based on 235 closed sales tracked by Resideline. The middle half of those sales ranged from $92,500 to $175,000.

Is 38128 a buyer's or seller's market?

Resideline is currently tracking 7 pending sales against 75 active listings in 38128, a pending-to-active ratio of 0.09. 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, 38128 currently looks like a balanced market.

Nearby ZIP code market data

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