Market Intelligence · TN / Memphis

Memphis, TN 38104 Housing Market

The typical home value in Memphis 38104 is $257,941, down 5.8% over the past year. The median list price is $299,225, and homes are taking a median of 69 days on market. That points to a slower, cooling market for sellers.

Updated June 2026Median value$258K

The median home value in Memphis, TN 38104 is $258K as of June 2026, down 5.8% 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 38104 range

$237K to $279K

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

-5.8% over 12 months

Typical home value in 38104 over the last 12 months: $274K in Jun 2025 to $258K in Jun 2026 (-5.8%).

Jun 2025$274K

Jun 2026$258K

The numbers

What is the 38104 housing market like?

Typical home value

$258K

Down5.8%YoY

Median list price

$299K

Days on market

69

Up50.0%MoM

Homes for sale

173

Price cuts

37.5%

New listings

30

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

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The comparison

How do 38104 home prices compare?

  • 38104$257,941
  • 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 173 homes for sale in 38104, with 30 new listings added recently. The median list price sits at $299,225, while the typical home value is $257,941, down 5.8% over the past year. Homes take a median of 69 days to sell, and 37.5% of listings have had a price cut. Taken together, that is a market where buyers have time and leverage. If you are thinking of selling here, expect to price carefully and plan for a longer timeline.

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