Memphis, TN 38128 Housing Market

Data snapshot: October 26, 2026. Closed-sale window: last 6 months.

Active listings
63
currently for sale
Pending sales
11
under contract
Median asking price
$145,000
current listings
Listing age
86 days
median time Resideline has been seeing the current listings
Closed sales tracked (6 mo)
238
a tracked sample, not a market total
Median sold price
$125,000
last 6 months
Middle half of sold prices
$85k to $161k
25th to 75th percentile

Memphis, TN inventory balance

Homes for sale vs homes under contract. Pending-to-active ratio: 0.17

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

What homes actually sell for in Memphis, TN

Distribution of 238 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $85k to $161k

What the numbers say

As of October 26, 2026, Resideline is tracking 63 active listings and 11 pending sales in ZIP code 38128. That pending-to-active ratio of 0.17 makes it a faster-moving market: listings are going under contract faster than in most of the ZIP codes Resideline tracks.

The median asking price of current listings is $145,000, while the median of the 238 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 38128 for 86 days.

Frequently asked questions

What is the median home price in 38128?

The median closed sale price in Memphis, TN 38128 was $125,000 over the last six months, based on 238 closed sales tracked by Resideline. The middle half of those sales ranged from $85,000 to $161,000.

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

Resideline is currently tracking 11 pending sales against 63 active listings in 38128, a pending-to-active ratio of 0.17. 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, 38128 is currently a faster-moving market.

Nearby ZIP code market data

Full Memphis, TN housing market report →

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