Memphis, TN 38107 Real Estate Market Report

ZIP Code: 38107
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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.

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Market Metrics

Note: 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.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates for properties in Memphis, TN are 6.34% compared to the 5.99% average rate observed in January 2026.

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

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Key Findings

1. The primary market value signal is the median sold price of 164,900, which represents the most recent transaction-level market indicator and suggests actual achieved pricing in the neighborhood; the median listing price of 175,000 implies a gap between asking and achieved prices that may indicate downward pressure on seller expectations.

2. Liquidity is slow: the median days on market is 318, which points to slower sales velocity and suggests that properties are spending substantially longer on market than typical metro cycles; this extended time-to-contract may indicate increased negotiating leverage for buyers.

3. Inventory context appears to reflect elevated supply relative to sales activity in the analyzed sample, which, combined with a price year-over-year trend of down, supports the interpretation of localized softening in 38107 rather than broad strength.

4. Market-level headwinds include a median price per square foot of 104, rents trending down, and moderate interest rate pressure (current 30-year fixed mortgage rates cited at 6.34% vs. a 5.99% January 2026 average); together these signals suggest continued caution for near-term price growth and underwriting assumptions.

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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.