Updated May 2026 · Redfin · 3-month window
38118 Real Estate Market Update: Memphis, TN, May 2026
The latest housing-market numbers for ZIP code 38118 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 | $135K | • 0.0% | ▲ +5.9% |
| Days on market | 19 | ▼ -2.6% | • 0.0% |
| Homes for sale | 77 | ▲ +8.5% | ▲ +71.1% |
| Sale-to-list | 95.1% | ▲ +0.6% | ▲ +0.1% |
| Homes sold | 58 | ▼ -19.4% | ▼ -12.1% |
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 38118 numbers say
Prices in Memphis's 38118 ZIP are still climbing. The median sale price reached $135,000, up 5.9% year over year. Homes here move fast: a typical listing goes under contract in about 19 days, and sellers are getting 95.1% of list price.
Based on 58 recent sales, 38118 is currently an active market.
What this means if you sell in 38118
Use these figures to set expectations early. Lead a listing appointment with the median price and the 19-day pace, show the year-over-year direction, and frame 38118 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 38118 housing market
- What is the median home price in ZIP 38118 (Memphis, TN)?
- As of May 2026, the median sale price in ZIP 38118 is $135,000 (+5.9% year over year), per the Redfin Data Center. Figures are a rolling 3-month window for this ZIP code.
- Is ZIP 38118 a buyer's or seller's market right now?
- ZIP 38118 is currently an active market, based on a 95.1% sale-to-list ratio, about 19 days on market for May 2026.
- How long do homes take to sell in ZIP 38118?
- A typical listing in 38118 goes under contract in about 19 days as of May 2026. Always verify against your local MLS before quoting figures to clients.
- Where does this 38118 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.