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Memphis, TN 38135 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: 0.19
ActiveActive listings: 3636PendingPending 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): $300k$300kSoldMedian sold price (last 6 months): $309k$309k
What homes actually sell for in Memphis, TN
Distribution of 240 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $245k to $380k
$157k to $194k: 13 sales$157k$194k to $230k: 27 sales$230k to $267k: 22 sales$230k$267k to $304k: 42 sales42sales$304k to $340k: 42 sales$304k$340k to $377k: 21 sales$377k to $413k: 26 sales$377k$413k to $450k: 23 salesMedian $309k

What the numbers say

As of September 14, 2026, Resideline is tracking 36 active listings and 7 pending sales in ZIP code 38135. That pending-to-active ratio of 0.19 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $300,000, while the median of the 240 closed sales Resideline tracked over the last six months was $309,000. 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 38135 for 60 days.

Frequently asked questions

What is the median home price in 38135?

The median closed sale price in Memphis, TN 38135 was $309,000 over the last six months, based on 240 closed sales tracked by Resideline. The middle half of those sales ranged from $245,000 to $380,000.

Is 38135 a buyer's or seller's market?

Resideline is currently tracking 7 pending sales against 36 active listings in 38135, a pending-to-active ratio of 0.19. 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, 38135 currently looks like a balanced market.

Nearby ZIP code market data

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