Memphis, TN 38114 Real Estate Market Report

ZIP Code: 38114
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

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 primary market value indicator is the <strong>median sold price $99,950</strong>, which, together with a up price year-over-year trend, suggests recent transaction-level appreciation despite a meaningful gap versus the <strong>median listing price $114,901</strong>, indicating some seller pricing optimism relative to achieved sale prices.

2. The <strong>median days on market 316</strong> signals slower sales velocity, which may indicate buyers are taking more time to transact or that certain properties require stronger pricing or marketing to convert to sale.

3. Sample data patterns point to <strong>median listing price $114,901</strong> occurring alongside excess supply relative to sales activity, suggesting elevated inventory relative to sales activity that may maintain pressure on asking prices until absorption improves.

4. The <strong>median price per square foot $87.8</strong> and a <strong>median market rent $1,000</strong> are current market anchors while rent is down year-over-year and interest rate pressure is moderate; investors and owners should be cautious about near-term rental demand and financing cost sensitivity when underwriting acquisitions or renovations.

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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.