Updated May 2026 · Redfin · 3-month window
38120 Real Estate Market Update: Memphis, TN, May 2026
The latest housing-market numbers for ZIP code 38120 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 | $393K | ▼ -16.4% | ▼ -3.4% |
| Days on market | 71 | ▼ -28.3% | ▲ +65.1% |
| Homes for sale | 74 | ▲ +7.2% | ▼ -11.9% |
| Sale-to-list | 96.5% | ▼ -0.4% | ▲ +0.8% |
| Homes sold | 67 | ▲ +24.1% | ▲ +8.1% |
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 38120 numbers say
The 38120 ZIP in Memphis is cooling. The median sale price sits at $393,450, 3.4% below last year. The market has loosened: a typical listing now takes around 71 days to go under contract, with sellers getting 96.5% of list price.
Based on 67 recent sales, 38120 is currently an active market.
What this means if you sell in 38120
Use these figures to set expectations early. Lead a listing appointment with the median price and the 71-day pace, show the year-over-year direction, and frame 38120 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 38120 housing market
- What is the median home price in ZIP 38120 (Memphis, TN)?
- As of May 2026, the median sale price in ZIP 38120 is $393,450 (-3.4% year over year), per the Redfin Data Center. Figures are a rolling 3-month window for this ZIP code.
- Is ZIP 38120 a buyer's or seller's market right now?
- ZIP 38120 is currently an active market, based on a 96.5% sale-to-list ratio, about 71 days on market for May 2026.
- How long do homes take to sell in ZIP 38120?
- A typical listing in 38120 goes under contract in about 71 days as of May 2026. Always verify against your local MLS before quoting figures to clients.
- Where does this 38120 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.