Memphis, TN 38111 Real Estate Market Report

ZIP Code: 38111
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.

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Key Findings

1. The primary indicator of realized market value is median sold price $174,000, which represents the representative recent sale level and should be used ahead of asking prices when assessing valuation; note that the current median listing price $189,950 suggests seller expectations are higher than recent transactions and pricing friction may exist between list and sale values.

2. Liquidity appears muted given a median days on market 206, which suggests slower sales velocity and that properties are taking materially longer to convert from listing to closed sale in this sample.

3. Market fundamentals are mixed: the price year-over-year trend is up (supporting modest appreciation), while the market temperature is neutral, indicating a balanced-to-cool environment rather than a strongly seller-favoring market; investors and brokers should account for neutral market temperature when setting pricing and marketing strategies.

4. Macro and rental signals add caution: interest rate pressure is elevated and rent year-over-year trend is down, which together may sustain downward pressure on near-term demand by keeping some buyers in the rental pool and compressing effective buyer purchasing power.

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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.

Memphis, TN 38111 Real Estate Market Report

ZIP Code: 38111
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo 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

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.

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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.

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Key Findings

1. The neighborhood's primary market indicator is the median sold price $139,000, which anchors valuation for recent transactions and suggests a lower transaction-level market value relative to asking expectations; representative recent sale appears more reliable than listing prices for pricing decisions.

2. There is a wide gap between the median listing price $239,950 and the median sold price $139,000, which may indicate pricing friction and that sellers' expectations exceed realized transaction prices; pricing gap suggests caution when underwriting offers based on list-side comparables.

3. Market velocity is slow with median days on market 329, pointing to slower sales velocity and longer holding periods — underwriting and carrying-cost assumptions should factor in extended marketing timelines; slower sales velocity may increase sensitivity to interest rate pressure in exits.

4. Market fundamentals show divergent signals: price trends are up while rent trends are down, and interest rate pressure is elevated, with a neutral overall market temperature; elevated interest rate pressure coupled with cooling rental momentum suggests financing and cash-flow stress are key risks for short-term investors.

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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.