38182
Memphis, Tennessee

The 38182 ZIP code shows distressed market characteristics with a median sale price of $26,500 that has remained flat year-over-year as of September 2015. Properties are sitting an average of 145 days on market, more than triple the typical turnover rate in healthy markets. Zero percent of homes are selling above list price, indicating buyers hold complete negotiating leverage and sellers face sustained downward pressure on pricing expectations.

This market favors cash buyers and value investors who can absorb extended hold periods and navigate below-median price points. The 145-day marketing timeline eliminates most retail buyers dependent on financing, while the $26,500 entry point suggests opportunities in distressed assets or properties requiring substantial rehabilitation. Sellers face the weakest possible position with no competitive bidding and extended exposure times that likely force progressive price reductions.

The PropIQ score of 27 out of 100 signals significant caution, reflecting poor liquidity and weak demand fundamentals that show no signs of near-term improvement. The flat year-over-year pricing combined with zero above-ask sales suggests this market lacks the buyer depth necessary for recovery. Investors should monitor whether days-on-market begin contracting below 120 days and whether any properties achieve list price premiums as early indicators of stabilization.