Memphis, TN 38127 Real Estate Market Report

ZIP Code: 38127
Report Date: May 2026
Market Temperature: COLD
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 Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Memphis TN 38127 area are averaging approximately 6.34%, reflecting the broader 2026 market volatility compared to earlier in the year.

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 indicator of recent market value is the median sold price: $94,000, which, combined with a median days on market: 206, signals a representative recent sale level amid slower sales velocity and extended time-to-contract. cold market temperature may be contributing to longer marketing timelines and pricing friction.

2. Despite a gap between the median listing price: $100,000 and the median sold price: $94,000, the sample shows relatively constrained active supply in recent analyzed transactions, which suggests seller expectations are somewhat above realized transaction prices and may require concessions or price adjustments to close sales. pricing gap

3. Market-level pressure is negative for both pricing and rents: price year-over-year trend is down and rent year-over-year trend is down, while interest rate pressure is elevated (Current 30-year fixed mortgage rates ~ 6.34%), collectively implying subdued buyer willingness and softer landlord pricing power in the near term. elevated interest rate pressure

4. Valuation and yield context: the median price per square foot: $78.61 paired with a median market rent: $1,050 reflects local unit-level pricing where investors should anticipate muted rent growth and longer hold periods before realizing turnover-driven gains, given the cold market temperature and slower transaction cadence.

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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.