Market Intelligence · TN / Memphis

Memphis, TN 38103 Housing Market

The typical home value in Memphis 38103 is $323,717, down 5.7% over the past year. The median list price is $360,500, and homes are taking a median of 76 days on market.

Updated June 2026Median value$324K

The median home value in Memphis, TN 38103 is $324K as of June 2026, down 5.7% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 38103 range

$298K to $350K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-5.7% over 12 months

Typical home value in 38103 over the last 12 months: $343K in Jun 2025 to $324K in Jun 2026 (-5.7%).

Jun 2025$343K

Jun 2026$324K

The numbers

What is the 38103 housing market like?

Typical home value

$324K

Down5.7%YoY

Median list price

$361K

Days on market

76

Down5.0%MoM

Homes for sale

162

Price cuts

22.3%

New listings

42

Sources · Zillow ZHVI (June 2026) / Realtor.com (June 2026) / FRED (July 2026)

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The comparison

How do 38103 home prices compare?

  • 38103$323,717
  • Memphis$148,486
  • Tennessee$273,929
  • United States$291,471

Median Zillow home value (ZHVI), as of June 2026. Comparison levels are medians across every ZIP code with Zillow data (Memphis: 25 ZIPs; Tennessee: 587 ZIPs; United States: 26,270 ZIPs).

Context

As of June 2026, there are 162 homes for sale in the 38103 ZIP code, with 42 new listings added recently. The median list price sits at $360,500, while the typical home value is $323,717, down 5.7% over the past year. Homes take a median of 76 days on market, and 22.3% of listings have had a price cut. For sellers, this is a slower market where realistic pricing matters more than ever.

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