Updated July 2026Zillowmonthly
38138 Real Estate Market Update: Germantown, TN, July 2026
The latest housing-market numbers for ZIP code 38138 in Germantown, Tennessee, for July 2026: a $425K 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 | $425K | ▼ -1.9% | n/a |
| Days to pending | 51 | ▲ +2.0% | n/a |
| Homes for sale | 165 | ▼ -1.2% | ▲ +1.9% |
| Sale-to-list | 98.0% | ▼ -0.5% | n/a |
| New listings | 40 | ▼ -20.0% | ▼ -27.3% |
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 38138 numbers say
The 38138 ZIP in Germantown is leveling off. The median sale price is $424,561, roughly flat year over year. Pace is steady: a typical listing goes under contract in about 51 days, with sellers getting 98.0% of list price.
With 165 homes for sale and 40 new listings this month, 38138 is currently an active market.
What this means if you sell in 38138
Use these figures to set expectations early with each client. Lead a listing appointment with the $425K median price and the 51-day pace, show the year-over-year direction, and frame 38138 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 38138 market
We built LOKAL to pull 38138's numbers straight from Zillow Research, so an agent and a client read from the same source. For July 2026 we recorded a $425K median sale price, a 98.0% sale-to-list ratio and a -1.9% month-over-month move with 165 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 38138 (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 38138 post →Frequently asked: the 38138 housing market
- What is the median home price in ZIP 38138 (Germantown, TN)?
- As of July 2026, the median sale price in ZIP 38138 is $424,561, per Zillow Research. Figures are monthly figures, smoothed over three months by Zillow for this ZIP code.
- Is ZIP 38138 a buyer's or seller's market right now?
- ZIP 38138 is currently an active market, based on a 98.0% sale-to-list ratio, about 51 days on market for July 2026.
- How long do homes take to sell in ZIP 38138?
- A typical listing in 38138 goes under contract in about 51 days as of July 2026. Always verify against your local MLS before quoting figures to clients.
- Where does this 38138 market data come from?
- All figures for 38138 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 from Zillow Research (ZIP-level market data, monthly figures, smoothed over three months by Zillow), not a valuation for a specific home.