Market Intelligence · TN / Memphis

Memphis, TN 38108 Housing Market

Homes in Memphis 38108 typically trade around $66,545, down 4.3% over the past year. The median list price stands at $107,500, though homes are taking 145 days to sell on average.

Updated September 2026Median value$67K

The median home value in Memphis, TN 38108 is $67K as of September 2026, down 4.3% 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.

Sell without the wait

Sell your Memphis home for cash.

A competitive, no-obligation cash offer from our institutional network. No repairs, no showings, close on your timeline. Most sellers get their cash offer within 24 hours.

Typical 38108 range

$61K to $72K

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.

Not sure cash is the right move? Discuss your options with a licensed local pro, free.

Asset monitoring

Track your home's value.

A free monthly briefing with your estimated value and 38108 market stats. Unsubscribe anytime.

See how a cash offer works citywide: Sell your house fast in Memphis, TN.

12-month value trend

-4.3% over 12 months

Sep 2025$70K

Low $66KHigh $70K

Sep 2026$67K

The numbers

What is the 38108 housing market like?

As of September 2026

Typical home value

$67K

4.3%YoY

Median list price

$108K

6.4%MoM

Days on market

145

11.5%MoM

Homes for sale

114

7.3%MoM

Price cuts

17.9%

1.1%MoM

New listings

25.0%MoM

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

The outlook

38108 housing market forecast 2027

-0.7%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 38108 to fall 0.7% by September 2027.

Over the 12 months through September 2026, typical home values in 38108 fell 4.3%, per the Zillow Home Value Index.

Will home prices drop in 38108?

Zillow's forecast says they may: it expects typical home values in 38108 to fall 0.7% by September 2027, after a 4.3% 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.

Free home value report

See what your 38108 home is worth.

See your estimated value and a real cash offer, side by side. No obligation, about a minute.

The comparison

How do 38108 home prices compare?

38108$66,545
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

As of September 2026, 114 homes were for sale in 38108, with 12 new listings coming to market. Median days on market reached 145, reflecting buyer hesitation in this area. About 17.9% of listings have already seen price reductions. The typical home value declined 4.3% year over year, signaling a cooling market. For sellers, this is a buyer's market, and expectations may need to adjust downward.

Monthly payment

Estimate your monthly payment.

Home price

Down payment20% · $13,309

Term

Rate (%)

Common questions

What people ask us.

What is the typical home value in Memphis 38108?

The typical home value in this ZIP is $66,545, down 4.3% over the past year as of September 2026.

How long do homes stay on the market in 38108?

The median time on market is 145 days, which is well above the pace of a balanced market.

What share of homes are being repriced?

About 17.9% of active listings have received a price cut, reflecting ongoing pressure on sellers to adjust expectations.

Discover

Nearby ZIP markets.

Keep reading