Is Memphis, TN 38181 a buyer’s or seller’s market?
Memphis is a seller’s market. With about 1.6 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Memphis housing market right now
In the three months ending August 31, 2026, 0% of homes in Memphis, TN 38181 sold above their list price, the typical home went under contract in 110 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. 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 fell from 100%, homes sold more slowly (16 days then) and the median sale price fell 31% to $104,205. Overall, Memphis is less competitive than a year ago, which gives buyers more room.
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Where Memphis is
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Questions about Memphis real estate
Is Memphis a buyer’s or seller’s market?
A seller’s market: there were 1.6 months of supply in Memphis, TN 38181 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 110 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 95.3% of the list price.
What is the median home price in Memphis?
The median sale price was $104,205 in the three months ending August 31, 2026, about $120 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