38141
Memphis, Tennessee

The Memphis 38141 ZIP code reports a median sale price of $190,000 as of February 2026, marking a modest +2.7% year-over-year increase that suggests price stabilization rather than acceleration. Homes are moving at a moderate pace with an average 41 days on market, while 26% of properties sell above list price—indicating selective competition for well-priced inventory. This split between the quarter of homes commanding premiums and the majority selling at or below ask signals a two-tiered market where condition and pricing strategy determine outcomes.

The 41-day absorption rate and 26% above-ask close rate create favorable conditions for sellers with updated properties who can capture bidding activity, while the remaining 74% of transactions at or below list provide negotiating leverage for value-focused buyers. Investors seeking cash-flowing rentals benefit from the $190,000 entry point, which remains accessible compared to national medians, while the +2.7% appreciation provides modest equity accumulation without overheated risk. First-time buyers can still compete given that three-quarters of sales don't trigger bidding wars.

The PropIQ score of 85/100 suggests algorithmic models are detecting stronger fundamentals than the +2.7% surface appreciation reveals, potentially flagging employment growth, inventory constraints, or demographic shifts not yet reflected in prices. Watch for days-on-market compression below 35 days or above-list sales exceeding 35%, either of which would confirm accelerating demand the intelligence score anticipates. The strong-buy signal indicates current pricing may lag intrinsic value by 6-18 months based on leading indicators.