Local home value data · Memphis, TN
What's my home worth in Memphis, TN?
Memphis is among the most affordable large cities in the country, with a median sale price roughly 54% below the national average, and prices have eased slightly over the past year.
Is Memphis a buyer's or seller's market?
Roughly balanced. Redfin rates Memphis 53/100 (somewhat competitive), based on how quickly homes sell, how often they get multiple offers, and how close they sell to list price.
What this means if you're selling in Memphis
A median sale price of $187,000, down 2.2% year-over-year, points to a market that has softened modestly. Homes in Memphis sell in a median of 36 days, unchanged from a year ago, and Redfin notes that some homes still receive multiple offers. A Compete Score of 53 out of 100 suggests a balanced market, so sellers should price to recent comparable sales and not expect bidding wars across the board.
How Memphis compares
Memphis has the lowest median of the 8 markets shown, and sits 54% below the U.S. median.
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Is Memphis a buyer's or seller's market right now?
It is fairly balanced. The Compete Score is 53 out of 100, homes sell in a median of 36 days, the same as a year ago, and the median sale price is down 2.2%. Some homes still get multiple offers, but not all.
How affordable is Memphis compared with the rest of the U.S.?
Redfin reports Memphis's median sale price, about $187,000, is roughly 54% lower than the national average.
How accurate is the Memphis median for my neighborhood?
The $187,000 citywide median can be far from the value of your own home, since prices vary widely across Memphis neighborhoods. For an estimate based on your own home and nearby recent sales, request a free home value report, which is reviewed by a local agent.
Home values in nearby markets
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Market data (median sale price, year-over-year change, days on market, and buyer competition) sourced from Redfin, trailing 3-month data as of August 2026. Figures are approximate, change frequently, and are not a substitute for a formal appraisal or a local agent's comparative market analysis. Read more about how home value estimates work.