Updated July 2026Zillowmonthly
38111 Real Estate Market Update: Memphis, TN, July 2026
The latest housing-market numbers for ZIP code 38111 in Memphis, Tennessee, for July 2026: a $137K median sale price, straight from Zillow Research. ZIP-level figures are monthly figures, smoothed over three months by Zillow.
| Metric | Value | MoM | YoY |
|---|---|---|---|
| Median sale price | $137K | ▼ -2.3% | ▼ -1.4% |
| Days to pending | 64 | ▼ -9.9% | ▲ +6.7% |
| Homes for sale | 263 | ▼ -1.9% | ▲ +6.0% |
| New listings | 59 | ▼ -6.3% | ▼ -7.8% |
Figures from Zillow Research (monthly figures, smoothed over three months by Zillow). Verify against your MLS before posting. Not a valuation for a specific home.
What the 38111 numbers say
The 38111 ZIP in Memphis is cooling. The median sale price sits at $136,695, 1.4% below last year. The market has loosened: a typical listing now takes around 64 days to go under contract, with sellers getting close to list price.
With 263 homes for sale and 59 new listings this month, 38111 is currently an active market.
What this means if you sell in 38111
Use these figures to set expectations early with each client. Lead a listing appointment with the $137K median price and the 64-day pace, show the year-over-year direction, and frame 38111 as an active market. A buyer or seller client trusts an agent who knows their exact ZIP, not just the metro average.
How we track the 38111 market
We built LOKAL to pull 38111's numbers straight from Zillow Research, so an agent and a client read from the same source. For July 2026 we recorded a $137K median sale price, -1.4% year over year and a -2.3% month-over-month move with 263 homes for sale. That compares with roughly $139K a year earlier, in 2025. We refresh every ZIP monthly from Zillow Research, which only publishes a smoothed median once a ZIP has enough transactions, so the median stays reliable instead of noisy. Both sources have published ZIP-level series for years, which is what lets us show month-over-month and year-over-year change here in 2026. LOKAL is independent and not affiliated with Zillow; always verify against your MLS before you publish.
ZIP-code areas follow U.S. Postal Service boundaries; for complementary demographics on 38111 (population, median household income, owner-occupancy), see the U.S. Census Bureau profile for this ZIP Code Tabulation Area. LOKAL covers price and pace; the Census covers who lives there.
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Build the 38111 post →Frequently asked: the 38111 housing market
- What is the median home price in ZIP 38111 (Memphis, TN)?
- As of July 2026, the median sale price in ZIP 38111 is $136,695 (-1.4% year over year), per Zillow Research. Figures are monthly figures, smoothed over three months by Zillow for this ZIP code.
- Is ZIP 38111 a buyer's or seller's market right now?
- ZIP 38111 is currently an active market, based on about 64 days on market for July 2026.
- How long do homes take to sell in ZIP 38111?
- A typical listing in 38111 goes under contract in about 64 days as of July 2026. Always verify against your local MLS before quoting figures to clients.
- Where does this 38111 market data come from?
- All figures for 38111 come from Zillow Research: monthly figures, smoothed over three months by Zillow. LOKAL turns them into a ready-to-post carousel, story and square graphic. LOKAL is not affiliated with Zillow.
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Data from Zillow Research (ZIP-level market data, monthly figures, smoothed over three months by Zillow), not a valuation for a specific home.