38011
Memphis, Tennessee
Memphis 38011 needs watching.
The 38011 ZIP code in Memphis, Tennessee has a median sale price of $255K, down -20.3% year-over-year. Homes spend an average of 71 days on market, with 14% of homes selling above list price.
Folio's PropIQ™ score of 55 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 38011.
Memphis ZIP 38011 is experiencing significant price correction, with the median sale price settling at $255,000 after a steep 20.3% year-over-year decline. Homes are moving at a moderate pace, averaging 71 days on market, while only 14% of properties are commanding above-asking offers. This combination of falling prices and extended marketing time signals a clear shift from the seller-dominated conditions that characterized previous years, creating a substantially cooler transaction environment.
This market configuration favors patient buyers with financing secured and flexibility on closing timelines. The 71-day average marketing period provides leverage for negotiation, particularly on properties exceeding this benchmark. Sellers face headwinds, as the 20.3% price decline and limited bidding competition—reflected in the 14% above-list metric—require realistic pricing strategies from day one. Investors seeking cash-flow properties may find entry points, though the downward price trajectory demands conservative underwriting assumptions.
The PropIQ score of 55 reflects caution rather than crisis, suggesting stabilization remains uncertain in coming quarters. Buyers should monitor whether days-on-market figures contract or expand beyond 71 days as a leading indicator of demand recovery. The critical variable is whether the annual price decline moderates or accelerates; sustained drops beyond 20% would signal deeper market distress. Current data suggests waiting for price discovery completion before aggressive positioning on either side of transactions.
What is the median home price in 38011 Memphis?
The median sale price in 38011 is $255K, down -20.3% year-over-year as of 2026-02-28.
How long do homes stay on the market in Memphis 38011?
Homes in 38011 Memphis spend an average of 71 days on market before going under contract.
Is Memphis 38011 a good place to invest in real estate?
Folio's PropIQ™ score for 38011 is 55/100 — a Caution signal. 14% of homes sold above asking.
What does a PropIQ™ score of 55 mean for 38011?
PropIQ™ is Folio's proprietary market score combining price momentum, days-on-market velocity, inventory absorption, and investment signals into a 0–100 number. Score of 55 = Caution in 38011 Memphis, Tennessee.