Market Intelligence · TN / Memphis

Memphis, TN 38105 Housing Market

Homes in Memphis 38105 are worth a typical $107,372, down 0.6% over the past year. The median list price sits at $214,700, with homes spending a median 94 days on market as of September 2026.

Updated September 2026Median value$107K

The median home value in Memphis, TN 38105 is $107K as of September 2026, down 0.6% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 38105 range

$99K to $116K

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

-0.6% over 12 months

Sep 2025$108K

Low $105KHigh $108K

Sep 2026$107K

The numbers

What is the 38105 housing market like?

As of September 2026

Typical home value

$107K

0.6%YoY

Median list price

$215K

2.4%MoM

Days on market

46.9%MoM

Homes for sale

19.0%MoM

Price cuts

66.4%

265.1%MoM

New listings

0.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

38105 housing market forecast 2027

-1.7%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 38105 to fall 1.7% by September 2027.

Over the 12 months through September 2026, typical home values in 38105 fell 0.6%, per the Zillow Home Value Index.

Will home prices drop in 38105?

Zillow's forecast says they may: it expects typical home values in 38105 to fall 1.7% by September 2027, after a 0.6% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 38105 home prices compare?

38105$107,372
Memphis$143,481
Tennessee$265,881
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Memphis: 25 ZIPs; Tennessee: 587 ZIPs; United States: 26,262 ZIPs).

Context

The ZIP has 25 homes for sale with 4 new listings as of September 2026. About two-thirds of active listings have received a price cut, reflecting the softer demand environment. Days on market at 94 suggests properties are taking longer to move. For sellers, this is a buyer-friendly market where pricing strategy and condition matter more than they did a year ago.

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Common questions

What people ask us.

What is the typical home value in 38105?

The typical home value in 38105 is $107,372, down 0.6% over the past year as of September 2026.

How long do homes stay on the market in 38105?

The median days on market is 94 as of September 2026.

How many homes are currently for sale in 38105?

There are 25 homes for sale as of September 2026, with 4 new listings added recently.

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Nearby ZIP markets.

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