38174
Memphis, Tennessee
Memphis 38174 needs watching.
The 38174 ZIP code in Memphis, Tennessee has a median sale price of $305K, down N/A year-over-year. Homes spend an average of 18 days on market, with 0% of homes selling above list price.
Folio's PropIQ™ score of 54 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 38174.
The 38174 ZIP code shows a stabilized market with a median sale price of $305,000 holding flat year-over-year, indicating price discovery has reached equilibrium after previous volatility. Properties move quickly at 18 days on market, well below the national average, yet zero homes are selling above list price. This combination signals adequate demand meeting supply at current pricing, with sellers forced to price accurately from listing to avoid extended market time.
This environment favors informed buyers with financing ready and realistic price expectations. The 18-day absorption rate requires quick decision-making, but the absence of bidding wars eliminates emotional premium payments. Sellers benefit from fast transaction timelines if priced correctly at market, though the 0% above-list metric confirms no room for aspirational pricing. Investors seeking cash-flowing rentals can negotiate at list price without competitive pressure inflating acquisition costs.
The PropIQ score of 54 suggests underlying market fragility that warrants monitoring for deterioration. Flat price movement combined with rapid sales typically precedes either upward momentum or inventory buildup, and current signals lean neutral to cautious. Watch for increasing days-on-market as the leading indicator of weakening demand, and track month-over-month listing volumes to identify whether supply pressures could push prices negative in coming quarters.
What is the median home price in 38174 Memphis?
The median sale price in 38174 is $305K, down N/A year-over-year as of 2023-12-31.
How long do homes stay on the market in Memphis 38174?
Homes in 38174 Memphis spend an average of 18 days on market before going under contract.
Is Memphis 38174 a good place to invest in real estate?
Folio's PropIQ™ score for 38174 is 54/100 — a Caution signal. 0% of homes sold above asking.
What does a PropIQ™ score of 54 mean for 38174?
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 54 = Caution in 38174 Memphis, Tennessee.