Home ValuePros

Market Intelligence · TN / Memphis

Memphis, TN 38119 Housing Market

The typical home value in Memphis, TN 38119 is $292,321, down 1.4% over the past year. Sellers are listing at a median of $299,700, and homes are spending a median of 58 days on market before going under contract.

Updated August 2026Median value$292K

The median home value in Memphis, TN 38119 is $292K as of August 2026, down 1.4% 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 38119 range

$269K to $316K

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

-1.4% over 12 months

Typical home value in 38119 over the last 12 months: $296K in Aug 2025 to $292K in Aug 2026 (-1.4%).

Aug 2025$296K

Aug 2026$292K

The numbers

What is the 38119 housing market like?

Typical home value

$292K

Down1.4%YoY

Median list price

$300K

Down2.1%MoM

Days on market

58

Up13.7%MoM

Homes for sale

94

Down5.1%MoM

Price cuts

37.7%

Up12.5%MoM

New listings

32

Up6.7%MoM

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

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The comparison

How do 38119 home prices compare?

  • 38119$292,321
  • 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

As of 2026-08-01, there are 94 homes for sale in 38119, with 32 new listings entering the market. The median list price stands at $299,700, while the typical home value is $292,321, down 1.4% over the past year. Homes are taking a median of 58 days to sell, which is neither fast nor slow. Notably, 37.7% of listings have taken a price cut, a sign that some sellers started too high. If you plan to sell here, realistic pricing from day one matters more than usual.

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20% · $58,464

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