Market Intelligence · TN / Memphis

Memphis, TN 38133 Housing Market

The typical home value in Memphis 38133 is $271,021, down 0.5% over the past year. The median list price sits at $319,670, with homes taking a median of 60 days to sell as of September 2026.

Updated September 2026Median value$271K

The median home value in Memphis, TN 38133 is $271K as of September 2026, down 0.5% 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 38133 range

$249K 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

-0.5% over 12 months

Sep 2025$272K

Low $271KHigh $273K

Sep 2026$271K

The numbers

What is the 38133 housing market like?

As of September 2026

Typical home value

$271K

0.5%YoY

Median list price

$320K

1.5%MoM

Days on market

11.1%MoM

Homes for sale

2.8%MoM

Price cuts

31.8%

7.3%MoM

New listings

0.0%MoM

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

The outlook

38133 housing market forecast 2027

-0.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 38133 to stay roughly flat by September 2027 (down 0.2%).

Over the 12 months through September 2026, typical home values in 38133 fell 0.5%, per the Zillow Home Value Index.

Will home prices drop in 38133?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 38133 to stay roughly flat by September 2027 (down 0.2%), after a 0.5% 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 38133 home prices compare?

38133$271,021
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

There are 73 homes for sale in 38133, with 20 new listings added in September 2026. Nearly one-third of listings have seen a price cut, reflecting the modest downward pressure on values. The median time to sale of 60 days suggests moderate buyer interest, though the gap between typical home value and median list price indicates some listings are priced above what the market has recently supported. For sellers, this is a market where pricing strategy matters more than usual.

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Common questions

What people ask us.

What is the typical home value in 38133?

The typical home value is $271,021, which is down 0.5% compared to the previous year.

How long do homes typically stay on the market in 38133?

The median days on market is 60 as of September 2026.

How many homes are currently for sale in 38133?

There are 73 homes for sale in the ZIP code as of September 2026.

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