Is Memphis, TX 79245 a buyer’s or seller’s market?
Memphis is a balanced market. With about 4.1 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Memphis housing market right now
In the three months ending August 31, 2026, 0% of homes in Memphis, TX 79245 sold above their list price, the typical home went under contract in 139 days and there were 4.1 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 7 sales, 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 more slowly (105 days then) and the median sale price rose 41% to $68,970. Overall, Memphis is less competitive than a year ago, which gives buyers more room.
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Questions about Memphis real estate
Is Memphis a buyer’s or seller’s market?
A balanced market: there were 4.1 months of supply in Memphis, TX 79245 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 139 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 76.9% of the list price.
What are property taxes in Memphis?
About 1.26% of a home’s value a year in Hall County, or roughly $5,040 on a $400,000 home.
What is the median home price in Memphis?
The median sale price was $68,970 in the three months ending August 31, 2026, about $48 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