Is Memphis, TN 38124 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-list93.1%Sold price ÷ list price

Median days on market27Listing to accepted offer

Median price per sq ft$157

The Memphis housing market right now

In the three months ending August 31, 2026, 0% of homes in Memphis, TN 38124 sold above their list price and the typical home went under contract in 27 days. With only 1 sale, these figures can swing a lot from month to month.

Run the numbers for 38124

Prefilled for 38124Can I win this house?Multiple-offer likelihood for a listing Prefilled for 38124Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

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Questions about Memphis real estate

How fast do homes sell in Memphis?

The typical home went under contract in 27 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 93.1% of the list price.

What is the median home price in Memphis?

The median sale price was $739,680 in the three months ending August 31, 2026, about $157 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