Market Intelligence · TN / Memphis

Memphis, TN 38112 Housing Market

The typical home value in Memphis 38112 is $120,382, down 8.4% over the past year. The median list price stands at $222,025, with homes sitting on the market for a median of 94 days.

Updated September 2026Median value$120K

The median home value in Memphis, TN 38112 is $120K as of September 2026, down 8.4% 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 38112 range

$111K to $130K

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 38112 market stats. Unsubscribe anytime.

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

12-month value trend

-8.4% over 12 months

Sep 2025$131K

Low $120KHigh $131K

Sep 2026$120K

The numbers

What is the 38112 housing market like?

As of September 2026

Typical home value

$120K

8.4%YoY

Median list price

$222K

1.0%MoM

Days on market

7.8%MoM

Homes for sale

1.3%MoM

Price cuts

28.4%

2.4%MoM

New listings

25.0%MoM

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

The outlook

38112 housing market forecast 2027

-0.7%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 38112 to fall 0.7% by September 2027.

Over the 12 months through September 2026, typical home values in 38112 fell 8.4%, per the Zillow Home Value Index.

Will home prices drop in 38112?

Zillow's forecast says they may: it expects typical home values in 38112 to fall 0.7% by September 2027, after a 8.4% 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 38112 home is worth.

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

The comparison

How do 38112 home prices compare?

38112$120,382
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

Memphis 38112 has 74 homes for sale as of September 2026, with 20 new listings added in that month. The median days on market of 94 suggests a slower pace of sales activity. Currently, 28.4% of listings have received a price cut, reflecting softness in buyer demand. The year-over-year decline in typical home value underscores the challenging conditions. Sellers in this ZIP should prepare for a longer sales timeline and potentially negotiate on price.

Monthly payment

Estimate your monthly payment.

Home price

Down payment20% · $24,076

Term

Rate (%)

Common questions

What people ask us.

What is the typical home value in Memphis 38112?

The typical home value is $120,382, which is down 8.4% over the past year as of September 2026.

How many homes are currently for sale in 38112?

There are 74 homes for sale as of September 2026, with 20 new listings in that month.

How long do homes typically stay on the market in this ZIP?

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

Discover

Nearby ZIP markets.

Keep reading