Updated July 2026Zillowmonthly
38120 Real Estate Market Update: Memphis, TN, July 2026
The latest housing-market numbers for ZIP code 38120 in Memphis, Tennessee, for July 2026: a $447K 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 | $447K | ▲ +11.5% | n/a |
| Homes for sale | 112 | ▲ +2.8% | ▼ -2.6% |
| New listings | 29 | ▼ -12.1% | ▲ +3.6% |
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 38120 numbers say
The 38120 ZIP in Memphis is leveling off. The median sale price is $447,452, roughly flat year over year. Sellers here are getting close to list price.
With 112 homes for sale and 29 new listings this month, 38120 is currently an active market.
What this means if you sell in 38120
Use these figures to set expectations early with each client. Lead a listing appointment with the $447K median price, show the year-over-year direction, and frame 38120 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 38120 market
We built LOKAL to pull 38120's numbers straight from Zillow Research, so an agent and a client read from the same source. For July 2026 we recorded a $447K median sale price and a +11.5% month-over-month move with 112 homes for sale. 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 38120 (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.
Turn these 38120 numbers into a finished post.
Open LOKAL with ZIP 38120 already loaded, not a nearby city. You'll get a carousel, story and square graphic carrying these exact figures, ready to export in seconds.
Build the 38120 post →Frequently asked: the 38120 housing market
- What is the median home price in ZIP 38120 (Memphis, TN)?
- As of July 2026, the median sale price in ZIP 38120 is $447,452, per Zillow Research. Figures are monthly figures, smoothed over three months by Zillow for this ZIP code.
- Is ZIP 38120 a buyer's or seller's market right now?
- ZIP 38120 is currently an active market for July 2026.
- How long do homes take to sell in ZIP 38120?
- Zillow does not publish a days-on-market figure for 38120 this period. Verify pace against your local MLS.
- Where does this 38120 market data come from?
- All figures for 38120 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 credited to its source on every update. LOKAL is independent.
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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.