38118
Memphis, Tennessee
Memphis 38118 is accelerating.
The 38118 ZIP code in Memphis, Tennessee has a median sale price of $134K, up +4.9% year-over-year. Homes spend an average of 22 days on market, with 11% of homes selling above list price.
Folio's PropIQ™ score of 85 signals Strong Buy conditions. Strong momentum and fast absorption suggest continued appreciation in Memphis.
Memphis ZIP 38118 is maintaining transactional velocity with a median sale price of $133,755, up 4.9% year-over-year as of February 2026. Homes are clearing in just 22 days, indicating demand significantly outpaces inventory in this price segment. The fact that 11% of properties sell above list price confirms competitive conditions, though this ratio suggests most transactions still close at or below ask, leaving room for negotiation on select listings.
First-time buyers with financing approval and investors targeting sub-$150K cash-flowing properties have optimal positioning here. The 22-day absorption rate requires immediate decisiveness, particularly on well-priced inventory, while the 89% of homes trading at or below list still allows for strategic offer structuring. Buy-and-hold investors benefit from the 4.9% appreciation tailwind combined with accessible entry pricing that generates positive rental arbitrage in Memphis's expanding employment corridors.
The PropIQ intelligence score of 85/100 signals continued price support through 2026, driven by sustained demand in affordable segments as Memphis's logistics and healthcare sectors add jobs. Watch for inventory injections that could extend days-on-market beyond 25 days, which would shift leverage toward buyers. Current data suggests the sub-$140K tier will absorb available supply without meaningful price correction through Q2 2026.
What is the median home price in 38118 Memphis?
The median sale price in 38118 is $134K, up +4.9% year-over-year as of 2026-02-28.
How long do homes stay on the market in Memphis 38118?
Homes in 38118 Memphis spend an average of 22 days on market before going under contract.
Is Memphis 38118 a good place to invest in real estate?
Folio's PropIQ™ score for 38118 is 85/100 — a Strong Buy signal. 11% of homes sold above asking.
What does a PropIQ™ score of 85 mean for 38118?
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 85 = Strong Buy in 38118 Memphis, Tennessee.