Memphis, TN 38106 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Property Taxes

Liquidity & Velocity

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The median sold price is 95,000, which serves as the primary indicator of realized market value and suggests modest downward pressure relative to broader Memphis — down price momentum may warrant conservative seller pricing and buyer contingency planning given current conditions.
2. There is a meaningful gap between the median listing price (88,250) and the median sold price (95,000), which may indicate pricing friction where seller expectations differ from recent transaction levels; sellers should consider pricing closer to recent sale benchmarks to improve traction.
3. Market velocity appears slow based on the median days on market of 306, consistent with a market that may require extended marketing periods and buyer patience; this slower sales velocity, combined with elevated interest rate pressure, suggests agents should plan longer listing campaigns and emphasize financing flexibility.
4. Local rent trends are positive with median market rent at 995 and rent year-over-year trend showing up, while borrowing conditions reflect elevated pressure with average 30-year rates around 6.53%; investors should weigh improving rent dynamics against higher financing costs when assessing near-term returns.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.