Is Memphis, TN 38126 a buyer’s or seller’s market?
Memphis is a buyer’s market. With about 17.6 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Memphis housing market right now
In the three months ending August 31, 2026, 50% of homes in Memphis, TN 38126 sold above their list price, the typical home went under contract in 93 days and there were 17.6 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 2 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 20%, homes sold more slowly (48 days then) and the median sale price rose 455% to $185,920. Overall, Memphis is more competitive than a year ago, so tougher for buyers.
Within Shelby County, homes here sell more slowly than in 97% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Memphis 38105 (0% sold over asking) or Ellendale 38029 (0% sold over asking).
Run the numbers for 38126
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 →Where Memphis is
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Questions about Memphis real estate
Is Memphis a buyer’s or seller’s market?
A buyer’s market: there were 17.6 months of supply in Memphis, TN 38126 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Memphis?
The typical home went under contract in 93 days in the latest three months.
Do homes in Memphis sell over asking?
50% of homes sold above their original list price, and the typical sale closed at 98.8% 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 $185,920 in the three months ending August 31, 2026, about $122 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