How much is a home in 38135 worth?

The typical home value in Memphis, TN 38135 is $298,485 as of 2026-08-01, down 0.6% over the past year.

How long does it take to sell a home in 38135?

Homes in 38135 are spending a median of 55 days on market as of 2026-08-01.

Are sellers cutting prices in 38135?

Yes. As of 2026-08-01, 33.6% of listings in 38135 have had a price cut, and the median list price is $329,950.

Market Intelligence · TN / Memphis

Memphis, TN 38135 Housing Market

The typical home value in Memphis, TN 38135 is $298,485, down 0.6% over the past year as of 2026-08-01. The median list price is $329,950, and homes are spending a median of 55 days on market.

Updated August 2026Median value$298K

The median home value in Memphis, TN 38135 is $298K as of August 2026, down 0.6% 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 38135 range

$275K to $322K

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

-0.6% over 12 months

Aug 2025$300K

Low $298KHigh $300K

Aug 2026$298K

The numbers

What is the 38135 housing market like?

As of August 2026

Typical home value

$298K

0.6%YoY

Median list price

$330K

4.7%MoM

Days on market

0.0%MoM

Homes for sale

7.7%MoM

Price cuts

33.6%

10.8%MoM

New listings

11.1%MoM

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

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The comparison

How do 38135 home prices compare?

38135$298,485
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 84 homes for sale in 38135, with 32 new listings entering the market. The median list price is $329,950, while the typical home value sits at $298,485, down 0.6% over the past year. Sellers are taking a median of 55 days to move a home. A 33.6% share of listings have taken a price cut, which suggests buyers have some room to push back on asking prices. For a seller, this points to a market where pricing accurately from the start matters more than testing a high number.

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