Memphis, TN metro area Housing Market
Cold MarketComprehensive housing market data for the Memphis, TN metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: March 2026
Median Sale Price
$300K
↑ 6.1% YoY
Days on Market
63 days
↑ 18.9% YoY
Active Inventory
4,709
↑ 7.6% YoY
Homes Sold
1,096
↓ 4.9% YoY
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
Memphis, TN metro area Market Summary
The Memphis, TN metro area housing market is cooling down. As of March 2026, the median home sale price is $300K, up 6.1% year-over-year. Homes are spending a median of 63 days on the market, 18.9% longer than a year ago.
There are 4,709 homes for sale — 7.6% more than last year. With 4.3 months of supply, this is a balanced market. 2,048 new listings were added during this period, up 8.5% year-over-year.
Homes are selling for 97.1% of their list price on average, suggesting room for negotiation. 13.3% of homes sell above their asking price. 27.4% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
78
Contributing Factors
How This Market Compares
vs. National Median
vs. Tennessee Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals. Prices are 31% below the national median, which could indicate stronger cash flow potential.
Memphis, TN metro area Market Trends
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Detailed Market Metrics
Median List Price
$295K
Price per Sq Ft
$153
Sale-to-List Ratio
97.1%
Months of Supply
4.3
Sold Above List
13.3%
Price Drops
27.4%
New Listings
2,048
↑ 8.5% YoY
Pending Sales
1,561
Off Market in 2 Weeks
33.4%
Other Markets in Tennessee
Nashville, TN metro area
$465K · 91d on market
Knoxville, TN metro area
$394K · 67d on market
Clarksville, TN metro area
$310K · 103d on market
Kingsport, TN metro area
$270K · 80d on market
Johnson City, TN metro area
$335K · 57d on market
Cleveland, TN metro area
$334K · 101d on market
Sevierville, TN metro area
$505K · 75d on market
Jackson, TN metro area
$247K · 44d on market
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Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.