Updated May 2026 · Redfin · 3-month window
38117 Real Estate Market Update: Memphis, TN, May 2026
The latest housing-market numbers for ZIP code 38117 in Memphis, Tennessee, for May 2026, from the Redfin Data Center. ZIP-level figures are a rolling three-month window.
| Metric | Value | MoM | YoY |
|---|---|---|---|
| Median sale price | $265K | ▲ +6.4% | ▼ -8.6% |
| Days on market | 42 | ▼ -23.1% | ▼ -15.3% |
| Homes for sale | 199 | ▲ +9.3% | ▲ +16.4% |
| Sale-to-list | 97.0% | ▲ +0.5% | ▲ +1.5% |
| Homes sold | 137 | ▲ +20.2% | ▼ -14.9% |
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 38117 numbers say
The 38117 ZIP in Memphis is cooling. The median sale price sits at $265,000, 8.6% below last year. Pace is steady: a typical listing goes under contract in about 42 days, with sellers getting 97.0% of list price.
Based on 137 recent sales, 38117 is currently an active market.
What this means if you sell in 38117
Use these figures to set expectations early. Lead a listing appointment with the median price and the 42-day pace, show the year-over-year direction, and frame 38117 as an active market. Buyers and sellers trust an agent who knows their exact ZIP, not just the metro average.
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Build the Memphis post →Frequently asked: the 38117 housing market
- What is the median home price in ZIP 38117 (Memphis, TN)?
- As of May 2026, the median sale price in ZIP 38117 is $265,000 (-8.6% year over year), per the Redfin Data Center. Figures are a rolling 3-month window for this ZIP code.
- Is ZIP 38117 a buyer's or seller's market right now?
- ZIP 38117 is currently an active market, based on a 97.0% sale-to-list ratio, about 42 days on market for May 2026.
- How long do homes take to sell in ZIP 38117?
- A typical listing in 38117 goes under contract in about 42 days as of May 2026. Always verify against your local MLS before quoting figures to clients.
- Where does this 38117 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.