Is Memphis, TN 38116 a buyer’s or seller’s market?

Balanced 3 months ending August 31, 2026 · Source: Redfin

Memphis is a balanced market. With about 5.1 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply5.1Under 4 months = seller’s market

Sold above original list18.2%Share of sales, last 3 months

Median sale-to-list98.9%Sold price ÷ list price

Median days on market24Listing to accepted offer

Median price per sq ft$90▼ −15.3% vs. last year

Run the numbers for 38116

Prefilled for 38116Can I win this house?Multiple-offer likelihood for a listing Prefilled for 38116Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Arlington 38002Seller’s market $164 /sq ft Collierville 38017Seller’s market $180 /sq ft Cordova 38016Seller’s market $133 /sq ft Cordova 38018Seller’s market $147 /sq ft Browse all markets →

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology