Updated May 2026 · Redfin · 3-month window
38114 Real Estate Market Update: Memphis, TN, May 2026
The latest housing-market numbers for ZIP code 38114 in Memphis, Tennessee, for May 2026: a $145K median sale price, straight from the Redfin Data Center. ZIP-level figures are a rolling three-month window.
| Metric | Value | MoM | YoY |
|---|---|---|---|
| Median sale price | $145K | ▼ -3.3% | ▲ +72.6% |
| Days on market | 57 | ▲ +68.7% | ▼ -8.9% |
| Homes for sale | 112 | ▲ +2.8% | ▲ +9.8% |
| Sale-to-list | 90.2% | ▼ -1.3% | ▼ -2.7% |
| Homes sold | 41 | ▲ +5.1% | ▼ -2.4% |
Figures from the Redfin Data Center ZIP-code tracker (rolling 3-month window, not seasonally adjusted). Verify against your MLS before posting. Not a valuation for a specific home.
What the 38114 numbers say
Prices in Memphis's 38114 ZIP are still climbing. The median sale price reached $145,000, up 72.6% year over year. The market has loosened: a typical listing now takes around 57 days to go under contract, with sellers getting 90.2% of list price.
Based on 41 recent sales, 38114 is currently an active market.
What this means if you sell in 38114
Use these figures to set expectations early with each client. Lead a listing appointment with the $145K median price and the 57-day pace, show the year-over-year direction, and frame 38114 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 38114 market
We built LOKAL to pull 38114's numbers straight from the Redfin Data Center, so an agent and a client read from the same source. For May 2026 we recorded a $145K median sale price, +72.6% year over year, a 90.2% sale-to-list ratio and a -3.3% month-over-month move across 41 recorded sales. That compares with roughly $84K a year earlier, in 2025. We refresh every ZIP monthly and only publish once a ZIP clears at least 20 recorded sales for the period, so the median stays reliable instead of noisy. Redfin has published ZIP-level market data monthly since 2020, which is what lets us show month-over-month and year-over-year change here in 2026. LOKAL is independent and not affiliated with Redfin; always verify against your MLS before you publish.
ZIP-code areas follow U.S. Postal Service boundaries; for complementary demographics on 38114 — 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 Memphis post →Frequently asked: the 38114 housing market
- What is the median home price in ZIP 38114 (Memphis, TN)?
- As of May 2026, the median sale price in ZIP 38114 is $145,000 (+72.6% year over year), per the Redfin Data Center. Figures are a rolling 3-month window for this ZIP code.
- Is ZIP 38114 a buyer's or seller's market right now?
- ZIP 38114 is currently an active market, based on a 90.2% sale-to-list ratio, about 57 days on market for May 2026.
- How long do homes take to sell in ZIP 38114?
- A typical listing in 38114 goes under contract in about 57 days as of May 2026. Always verify against your local MLS before quoting figures to clients.
- Where does this 38114 market data come from?
- All figures come from the Redfin Data Center ZIP-code market tracker, a rolling 3-month window refreshed monthly. LOKAL turns them into a ready-to-post carousel, story and square graphic. LOKAL is not affiliated with Redfin.
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Data: Redfin · Redfin Data Center (ZIP-code market tracker). Figures are a ZIP-level 3-month snapshot, not a valuation for a specific home.