Is Memphis, TN 38135 a buyer’s or seller’s market?

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

Memphis is a seller’s market. With about 3.2 months of supply and 18% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.

Months of supply3.2Under 4 months = seller’s market

Sold above original list18.1%Share of sales, last 3 months

Median sale-to-list98.1%Sold price ÷ list price

Median days on market30Listing to accepted offer

Median price per sq ft$148▼ −7.1% vs. last year

Run the numbers for 38135

Prefilled for 38135Can I win this house?Multiple-offer likelihood for a listing Prefilled for 38135Over-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