Market Intelligence · TN / Memphis

Memphis, TN 38117 Housing Market

The typical home value in Memphis 38117 is $271,375, down 1.8% over the past year. The median list price is $286,200, and homes are taking a median of 60 days on market.

Updated June 2026Median value$271K

The median home value in Memphis, TN 38117 is $271K as of June 2026, down 1.8% 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 38117 range

$250K to $293K

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

-1.8% over 12 months

Typical home value in 38117 over the last 12 months: $276K in Jun 2025 to $271K in Jun 2026 (-1.8%).

Jun 2025$276K

Jun 2026$271K

The numbers

What is the 38117 housing market like?

Typical home value

$271K

Down1.8%YoY

Median list price

$286K

Days on market

60

Up44.6%MoM

Homes for sale

210

Price cuts

36.4%

New listings

62

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

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The comparison

How do 38117 home prices compare?

  • 38117$271,375
  • 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 210 homes for sale in the 38117 area of Memphis, with 62 new listings added recently. The median list price sits at $286,200, while the typical home value is $271,375, down 1.8% over the past year. Homes are spending a median of 60 days on market, and 36.4% of listings have had a price cut. That share of price cuts points to a market where buyers have room to negotiate, so sellers should price carefully and expect to be patient.

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