Market Intelligence · TN / Memphis

Memphis, TN 38119 Housing Market

The typical home value in Memphis 38119 is $288,176, down 1.3% over the past year. The median list price stands at $293,000, with homes staying on the market for a median of 61 days.

Updated September 2026Median value$288K

The median home value in Memphis, TN 38119 is $288K as of September 2026, down 1.3% 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.

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Typical 38119 range

$265K to $311K

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

-1.3% over 12 months

Sep 2025$292K

Low $288KHigh $292K

Sep 2026$288K

The numbers

What is the 38119 housing market like?

As of September 2026

Typical home value

$288K

1.3%YoY

Median list price

$293K

2.2%MoM

Days on market

5.2%MoM

Homes for sale

5.3%MoM

Price cuts

26.3%

30.2%MoM

New listings

12.5%MoM

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

The outlook

38119 housing market forecast 2027

-0.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 38119 to stay roughly flat by September 2027 (down 0.2%).

Over the 12 months through September 2026, typical home values in 38119 fell 1.3%, per the Zillow Home Value Index.

Will home prices drop in 38119?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 38119 to stay roughly flat by September 2027 (down 0.2%), after a 1.3% 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.

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The comparison

How do 38119 home prices compare?

38119$288,176
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 38119 has 89 homes for sale as of September 2026, with 28 new listings added to the market. The median days on market of 61 suggests a moderate pace of activity. More than one in four listings have seen price cuts, which reflects the modest decline in typical home values over the past year. Sellers should expect a buyer's market where negotiations matter.

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Common questions

What people ask us.

What is the typical home value in Memphis 38119?

The typical home value is $288,176, down 1.3% over the past year as of September 2026.

How many homes are for sale in this ZIP code?

There are 89 homes for sale as of September 2026, with 28 new listings added recently.

How long do homes typically stay on the market?

The median days on market is 61 as of September 2026.

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