Market Intelligence · TN / Memphis

Memphis, TN 38108 Housing Market

The typical home value in Memphis 38108 is $73,235, down 6.9% over the past year. The median list price is $109,950, and homes are taking a median of 100 days on market as of June 1, 2026.

Updated June 2026Median value$73K

The median home value in Memphis, TN 38108 is $73K as of June 2026, down 6.9% 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 38108 range

$67K to $79K

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

-6.9% over 12 months

Typical home value in 38108 over the last 12 months: $79K in Jun 2025 to $73K in Jun 2026 (-6.9%).

Jun 2025$79K

Jun 2026$73K

The numbers

What is the 38108 housing market like?

Typical home value

$73K

Down6.9%YoY

Median list price

$110K

Days on market

100

Up222.6%MoM

Homes for sale

124

Price cuts

19.6%

New listings

22

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

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The comparison

How do 38108 home prices compare?

  • 38108$73,235
  • 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 1, 2026, there are 124 homes for sale in the 38108 ZIP code, with 22 new listings added. The median list price sits at $109,950, while the typical home value is $73,235. Homes are moving slowly, with a median of 100 days on market, and 19.6% of listings have had a price cut. With values down 6.9% over the past year, sellers should expect a longer timeline and price their homes carefully to match current demand.

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