MONEY GLOBE XMemphis, TN housing market: home values, sales and rents
The typical home value in the Memphis, TN metro area was $242,102 in September 2026, up 0.1% over a year and up 15.5% over five years. Across the United States the typical value was $366,157 (up 1.2% over a year). Homes sold at 98.4% of their asking price, with 4.3 months of supply on the market. Typical rent was $1,393 a month. Our simple reading of these numbers: buyer's market leaning.
Updated November 04, 2026.
Reading: Buyer's market leaning
The numbers
| Measure | Latest | 1-year change | As of |
|---|---|---|---|
| Typical home value | $242,102 | +0.1% | September 2026 |
| Typical value — lower-priced third | $118,549 | -0.9% | September 2026 |
| Typical value — higher-priced third | $409,987 | -1.0% | September 2026 |
| Median sale price | $260,000 | +11.6% | August 2026 |
| Median list price | $274,900 | -8.3% | September 2026 |
| Sale price vs asking price | 98.4% | no change | August 2026 |
| Homes sold above asking | 14% | -2.9 pts | August 2026 |
| Homes sold (month) | 1,448 | -3.1% | September 2026 |
| New listings (month) | 1,351 | +4.1% | September 2026 |
| Homes for sale | 6,265 | +8.0% | September 2026 |
| Months of supply | 4.3 months | +0.4 | September 2026 |
| Sales-to-new-listings ratio | 107% | -8.0 pts | September 2026 |
| Days to an accepted offer (median) | 40 days | +7.0 | September 2026 |
| Typical rent (all homes) | $1,393 | +1.1% | September 2026 |
| Zillow market heat index strong buyer's market on Zillow's scale (0–100) | 26 | -3.0 | September 2026 |
Typical home value (Zillow Home Value Index)
What the numbers say
- Zillow market heat index 26 of 100: strong buyer's market on Zillow's scale (0–100).
- 4.3 months of supply: normal (3 to 6).
- The typical home sells at 98.4% of its asking price.
- Homes sold equal 107% of new listings this month, slower than this city's usual pace (123% on average since 2018).
- Typical home value up 0.1% over a year.
Source: Zillow Research (zillow.com/research/data).
Metro-area statistics from Zillow Research. The sales-to-new-listings ratio and months of supply are calculated by Money Globe X from Zillow's counts of homes sold, new listings and homes for sale.
Statistics for information and education only — not real estate, financial or investment advice. Figures are monthly or yearly averages for a whole metro area; a single home or neighbourhood can differ a lot.
Nearby: other places in TN
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Updated November 04, 2026. Sources: Zillow Research. Educational information only - not financial advice.