Unshakable ZIP Data 38118 | Memphis, TN Housing Market
Memphis · Shelby County · Memphis, TN-MS-AR metro · Tennessee · Data updated June 19, 2026
The median sale price in ZIP 38118, Memphis, Tennessee is $134,960 at $88 per square foot. 60 single-family homes sold in the latest period, up 8.6 percent from a year earlier. Homes sit a median of 19 days on market with 4.2 months of supply. Sellers are getting 95.1 percent of list price and 12.1 percent of homes sold above asking.
Buyer leverage market. Negotiate hard.
Value anchors
| Metric | Value | Year over year |
|---|---|---|
| Average single-family value | $130,282 | |
| Average price per sq ft | $85 | |
| Median sale price | $134,960 | |
| Median sale price per sq ft | $88 | |
| Median home size | 1,525 sq ft | |
| Median new listing price | $133,856 | -4.3% |
| National size rank | 2,349 |
Sales activity
| Metric | Value | Year over year |
|---|---|---|
| Homes sold | 60 | +8.6% |
| Median days on market | 19 days | |
| Months of supply | 4.2 months | |
| New listings | 78 | +11.7% |
| Active listings | 153 | +45.7% |
| Pending sales | 60 | +12.8% |
Pricing power
| Metric | Value | Year over year |
|---|---|---|
| Average sale-to-list ratio | 95.1% | +0.1 pts |
| Share sold above list | 12.1% | -0.7 pts |
Bedroom value anchors
Average values by bedroom count. Value anchors for orientation, not appraisals.
2-bedroom
$81,388
3-bedroom
$127,538
4-bedroom
$150,757
5-bedroom
$167,758
These figures describe the single-family market for Memphis, Tennessee ZIP 38118. They are market context, not a substitute for sold comps or a formal appraisal.