38118 Home Values & Market Trends
There are 508 homes currently listed for 38118. 38118 real estate market trends show that home prices range from $60,000 to $439,900, and the median sales price in the 38118 zip code is $130,000. The total number of properties sold within the past twelve months is 460. In 38118, 17 properties are in foreclosure, 4 are bank owned properties,and 13 are headed for auction.
38118 Real Estate Market Overview
| City | Median Est. Value |
|---|---|
| Memphis | $ 159,140 $ 109/sqft |
Housing Market Summary for 38118
| Sep 2025 | September 2026 | Change | |
|---|---|---|---|
| Median Listing Price | $140K | $149.7K | 6.93% |
| Median Sold Price | $125.9K | $118.1K | -6.13% |
| Homes For Sale | 285 | 503 | 76.49% |
| Homes Sold | 153 | 90 | -41.18% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in 38118
Browse Homes in 38118
The median list price of a home in Memphis, is $130,000. A total of 508 properties are for sale, and the percentage of properties for sale in the zip code is 508.00%. The total count of 38118 properties is 627.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in 38118 with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single city. There is 1 cities within 38118; of that cities, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in 38118 ranges from the highest value of $1,150,000 in memphis to the lowest value of $18,113 in memphis. Bank owned homes and properties account for 0.64% of properties in 38118. There is 1 cities within 38118; memphis containing 184 REO properties, has the highest number of bank owned properties in a single city.
- Auctionsmemphis has 293 auction properties, the highest number of properties going to auction in a single city in the state of 38118. Auction homes and other auction properties account for 2.07% of all properties in 38118. There is 1 cities within 38118; of that cities, the median estimated home value for homes going to auction ranges from $922,002 in memphis to the lowest value of $21,319 in memphis.
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More Real Estate Resources for 38118
Guide for 38118
Foreclosure is a term that can sometimes lead to confusion for those looking to make a real estate investment. In simple terms, it refers to the process where a lender takes possession of a property after the owner fails to keep up with their mortgage payments. When it comes to land, this means that buyers […]
Descubre todo lo que necesitas saber sobre cómo comprar una casa en ejecución hipotecaria.
Learn how to buy a foreclosed home in Chicago, Illinois.
Tips to find a home in pre-foreclosure and get a good deal on a new home.
