38168
Memphis, Tennessee
Memphis 38168 needs watching.
The 38168 ZIP code in Memphis, Tennessee has a median sale price of $178K, down -19.1% year-over-year. Homes spend an average of 37 days on market, with 0% of homes selling above list price.
Folio's PropIQ™ score of 37 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 38168.
ZIP code 38168 in Memphis presents a contracting market with a median sale price of $178,000, down 19.1% year-over-year as of February 2026. Properties are moving at a moderate pace with 37 days on market, but the complete absence of homes selling above list price indicates zero competitive bidding pressure. This price correction represents one of the steeper declines in the Memphis metro area, signaling either oversupply or diminished demand specific to this submarket.
Buyer conditions are optimal for price-sensitive purchasers and value investors willing to absorb near-term depreciation risk. The 19.1% annual decline creates entry points roughly $42,000 below prior-year levels, while the 37-day absorption rate provides adequate negotiation windows. Sellers face unfavorable conditions with zero above-ask transactions, suggesting list prices must align at or below market clearing levels to achieve sale velocity within the current 37-day average timeline.
The PropIQ score of 37/100 signals elevated caution and suggests downward price momentum may persist through the next quarter. With no homes commanding premium pricing, further inventory accumulation would likely extend days on market beyond the current 37-day threshold. Buyers should monitor monthly sales volume and new listing counts to identify potential stabilization, while current price discovery appears incomplete given the severity of the annual correction and weak demand signals.
What is the median home price in 38168 Memphis?
The median sale price in 38168 is $178K, down -19.1% year-over-year as of 2026-02-28.
How long do homes stay on the market in Memphis 38168?
Homes in 38168 Memphis spend an average of 37 days on market before going under contract.
Is Memphis 38168 a good place to invest in real estate?
Folio's PropIQ™ score for 38168 is 37/100 — a Caution signal. 0% of homes sold above asking.
What does a PropIQ™ score of 37 mean for 38168?
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 37 = Caution in 38168 Memphis, Tennessee.