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Is Memphis, TN 38105 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Memphis is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list85.2%Sold price ÷ list price
Median days on market26Listing to accepted offer
Median price per sq ft$92▼ −5.7% vs. last year

The Memphis housing market right now

In the three months ending August 31, 2026, 0% of homes in Memphis, TN 38105 sold above their list price and the typical home went under contract in 26 days. With only 1 sale, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (93 days then) and the median sale price fell 47% to $114,950. Overall, Memphis is more competitive than a year ago, so tougher for buyers.

Within Shelby County, homes here sell faster than in 78% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.

Nearby, Memphis 38126 (50% sold over asking) and Cordova 38018 (22% sold over asking) are even more competitive.

Run the numbers for 38105

Prefilled for 38105Can I win this house?Multiple-offer likelihood for a listing Prefilled for 38105Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Arlington 38002Seller’s market $164 /sq ftCollierville 38017Seller’s market $180 /sq ftCordova 38016Seller’s market $133 /sq ftCordova 38018Seller’s market $147 /sq ft Browse all markets →

Towns like Memphis nearby

Find towns like Memphis in other states →
Memphis, TN38126 · 2 miles away72% similarcheaper homes ($31K less) · younger residents Memphis, TN38115 · 11 miles away52% similarpricier homes ($55K more) · larger Memphis, TN38116 · 8 miles away43% similarpricier homes ($48K more) · larger Memphis, TN38107 · 2 miles away41% similarpricier homes ($62K more) · larger

Where Memphis is

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Questions about Memphis real estate

How fast do homes sell in Memphis?

The typical home went under contract in 26 days in the latest three months.

Do homes in Memphis sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 85.2% of the list price.

What are property taxes in Memphis?

About 0.98% of a home’s value a year in Shelby County, or roughly $3,920 on a $400,000 home.

What is the median home price in Memphis?

The median sale price was $114,950 in the three months ending August 31, 2026, about $92 per square foot.

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology