Home ValuePros

Market Intelligence · TN / Memphis

Memphis, TN 38122 Housing Market

The typical home value in Memphis, TN 38122 is $125,711, down 3.6% over the past year. The median list price is $171,570, and homes spend a median of 109 days on market. As of 2026-08-01, there were 141 homes for sale.

Updated August 2026Median value$126K

The median home value in Memphis, TN 38122 is $126K as of August 2026, down 3.6% 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 38122 range

$116K to $136K

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

-3.6% over 12 months

Typical home value in 38122 over the last 12 months: $130K in Aug 2025 to $126K in Aug 2026 (-3.6%).

Aug 2025$130K

Aug 2026$126K

The numbers

What is the 38122 housing market like?

Typical home value

$126K

Down3.6%YoY

Median list price

$172K

Flat0.0%MoM

Days on market

109

Up2.8%MoM

Homes for sale

141

Down2.1%MoM

Price cuts

12.8%

Down51.5%MoM

New listings

28

Flat0.0%MoM

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

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The comparison

How do 38122 home prices compare?

  • 38122$125,711
  • 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

The 38122 market is soft. Typical home values sit at $125,711 and have fallen 3.6% over the past year, while sellers are asking a median list price of $171,570. Homes are taking a median of 109 days to sell, and only 28 new listings came on as of 2026-08-01 against 141 homes already for sale. Just 12.8% of listings have taken a price cut, which suggests many sellers have not yet adjusted to where values are heading. For a seller, the honest read is that pricing realistically from day one matters more than holding out for a higher number.

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