Is Memphis, TN 38118 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Memphis is a buyer’s market. With about 6.2 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Competition score36/ 100

More competitive than 34% of U.S. ZIP codes, and #85 of 299 in the state.

Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown

Months of supply6.2Under 4 months = seller’s market

Sold above original list21.7%Share of sales, last 3 months

Median sale-to-list97.1%Sold price ÷ list price

Median days on market38Listing to accepted offer

Median price per sq ft$88▲ +0.2% vs. last year

Run the numbers for 38118

Prefilled for 38118Can I win this house?Multiple-offer likelihood for a listing Prefilled for 38118Over-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 →

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More tools for 38118

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value

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