How much is a home in 38115 worth?

The typical home value in 38115 is $166,547, up 0.5% over the past year. The median list price for homes currently on the market is $117,000.

How long does it take to sell a home in 38115?

Homes in 38115 spend a median of 63 days on the market. About 21.5% of current listings have had a price cut.

How many homes are for sale in 38115?

There are 56 homes for sale in 38115, including 20 new listings.

Market Intelligence · TN / Memphis

Memphis, TN 38115 Housing Market

Homes in Memphis, TN 38115 have a typical value of $166,547, up 0.5% over the past year. The median list price is $117,000, and homes spend a median of 63 days on the market.

Updated August 2026Median value$167K

The median home value in Memphis, TN 38115 is $167K as of August 2026, up 0.5% 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 38115 range

$153K to $180K

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

+0.5% over 12 months

Aug 2025$166K

Low $164KHigh $167K

Aug 2026$167K

The numbers

What is the 38115 housing market like?

As of August 2026

Typical home value

$167K

0.5%YoY

Median list price

$117K

2.2%MoM

Days on market

33.0%MoM

Homes for sale

19.1%MoM

Price cuts

21.5%

39.8%MoM

New listings

100.0%MoM

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

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The comparison

How do 38115 home prices compare?

38115$166,547
Memphis$148,286
Tennessee$270,768
United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Memphis: 25 ZIPs; Tennessee: 587 ZIPs; United States: 26,265 ZIPs).

Context

There are 56 homes for sale in 38115, with 20 new listings coming to market. The typical home value is $166,547, up 0.5% over the past year, while the median list price is $117,000. Homes are taking a median of 63 days to sell, and 21.5% of listings have had a price cut. The gap between asking prices and typical values suggests sellers here often start below where the broader market sits. For a seller, this is a slow but stable market where realistic pricing from the start matters.

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