38107
Memphis, Tennessee

Memphis ZIP 38107 shows a median sale price of $210,000 as of February 2026, representing an extraordinary year-over-year increase of 105.9%. This dramatic appreciation signals a market that has undergone rapid repricing, though velocity indicators suggest stabilization, with properties averaging 70 days on market. Only 5% of homes are selling above list price, indicating that despite the substantial annual gains, buyer competition has moderated considerably from peak conditions.

This environment favors cash buyers and value investors capable of moving decisively within the 70-day average absorption window. The $210,000 price point remains accessible for first-time buyers with conventional financing, though the previous year's doubling creates challenging comparables for appraisals. Sellers who purchased before the appreciation cycle can exit with substantial equity, while new entrants face lower competition risk with just one in twenty properties commanding above-ask premiums.

The PropIQ score of 70 signals neutral conditions with elevated monitoring requirements, suggesting the market sits at an inflection point following extreme appreciation. Forward indicators will depend on whether absorption rates accelerate or inventory builds at current pricing levels. The 70-day marketing window and minimal bidding activity suggest price discovery is ongoing, making the next quarter's transaction velocity critical for confirming whether 2025's 105.9% gain represents sustainable demand or compressed inventory release.