38177
Memphis, Tennessee
Memphis 38177 needs watching.
The 38177 ZIP code in Memphis, Tennessee has a median sale price of $310K, down N/A year-over-year. Homes spend an average of 58 days on market, with 0% of homes selling above list price.
Folio's PropIQ™ score of 27 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 38177.
The Memphis 38177 market shows equilibrium pricing with the median sale price holding at $310,000, unchanged from the prior year period. Properties are moving at a moderate pace, averaging 58 days on market, while zero homes have closed above asking price. This data configuration indicates neither upward price pressure nor distressed selling, suggesting a balanced negotiating environment where list prices are meeting but not exceeding buyer expectations.
This environment favors methodical buyers with flexible timelines who can leverage the absence of competitive bidding pressure. The two-month absorption rate allows for thorough due diligence and inspection periods without urgency premiums. Sellers with properly priced assets can still execute at expected values, but those requiring quick liquidity or testing above-market pricing face headwinds given the 0% above-list close rate and extended marketing periods.
The PropIQ score of 27 signals material caution, suggesting underlying market fragility despite surface-level price stability. This low score typically precedes either price deterioration or prolonged stagnation as demand softens relative to supply. Investors should monitor monthly absorption rates and any expansion beyond the current 58-day marketing window, which would confirm weakening fundamentals. The flat pricing combined with cautionary intelligence suggests defensive positioning rather than aggressive acquisition strategies.
What is the median home price in 38177 Memphis?
The median sale price in 38177 is $310K, down N/A year-over-year as of 2026-01-31.
How long do homes stay on the market in Memphis 38177?
Homes in 38177 Memphis spend an average of 58 days on market before going under contract.
Is Memphis 38177 a good place to invest in real estate?
Folio's PropIQ™ score for 38177 is 27/100 — a Caution signal. 0% of homes sold above asking.
What does a PropIQ™ score of 27 mean for 38177?
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 27 = Caution in 38177 Memphis, Tennessee.