Memphis, TN 38107 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

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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 primary market signal is the median sold price is 110,000, which reflects recent completed transactions and indicates the neighborhood's current market value relative to asking expectations; with a median listing price of 162,450 there is a notable spread that may indicate pricing friction between seller expectations and recent sale outcomes (pricing gap).
2. The market shows slower observed transaction velocity: the median days on market is 282, which suggests lengthier time to close deals and moderate liquidity constraints despite other local dynamics.
3. Inventory conditions appear to show relatively elevated supply versus recent sales activity in the analyzed sample, which, combined with a price year-over-year trend of down, suggests sellers may need to be more competitive on price or terms to achieve the median sold price of 110,000.
4. Rent and financing context: median market rent is 1,195 with rent year-over-year trend up, while interest rate pressure is elevated and local 30-year fixed mortgage rates are reported around 6.53%, which may support steady rental demand but temper purchase affordability and buyer pool size—factors that can sustain the observed median sold price of 110,000.

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.