Photo: Quintin Soloviev · CC BY 4.05,268 homes sold in Memphis in the last year, at a typical $194K
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Memphis homes are listed.
Every place Memphis homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Memphis.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
6% of Memphis’ sales are condos, at $44K less than a house
4661 houses and 331 condos sold in the year to May 2026. Houses sell faster and draw more bidding wars.
typical sale · 4661 sold in 12 months
- Per square foot
- $126TN $209
- Days to sell
- 42
- Sold over asking
- 14%
- Listings with a price cut
- 29%
typical sale · 331 sold in 12 months
- Per square foot
- $138TN $262
- Days to sell
- 87
- Sold over asking
- 5%
- Listings with a price cut
- 25%
Multi-family (2–4 units): 172 sold, typical $144K
Townhouses: 107 sold, typical $184K
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2022, at 1.8 times the 2016 price
5,268 sales in the last year, against 7,982 in 2021 and a low of 5,502 in 2025. The typical sale went from $107K in 2016 to $194K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $200K buys in Memphis
Check a listing against what Memphis homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Memphis are rarer than before the pandemic, and more homes are for sale
We read every month of Memphis’ home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 5,268 sales.
If you’re buying in Memphis
- Shop in October. It brings about 721 new listings a month, close to the busiest month, with fewer bidding wars (22% over asking).
- You can negotiate. 28% of listings have cut their price, against 19% before the pandemic.
- Offer under asking. Buyers paid 95.4% of the list price on average; 13% paid over.
- You’ll usually have time. Only 28% of homes go under contract within two weeks; the typical one takes 45 days.
Summer brings both the most homes and the most bidding wars
June has the most new listings (about 852 a month), and the most competition: 26% close over asking. September and October offer nearly as much choice with fewer homes bid up (23%). January has the least competition (18%).
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Tennessee as a whole
| Memphis now | 2017–19 | 2021 peak | TN now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 13% | 20% | 39% | 14% |
| Gone within two weeksShare of homes under contract within 14 days | 28% | 44% | 61% | 27% |
| Listings with a price cutShare of homes for sale that cut their price | 28% | 19% | 15% | 25% |
| Price paid vs. askingAverage sale price ÷ list price | 95.4% | 96.5% | 99.6% | 97.3% |
| Days to sellMedian days from listing to contract | 45 | 40 | 32 | 70 |
2339 homes for sale on a typical day
That’s twice the 2021 low (1217) and 32% more than in 2017–19.
1 in 4 listings has cut its price
28% in the last year, against 19% in 2017–19 and 25% across Tennessee. More sellers are pricing high and coming down.
Since 2019, houses are up 56%, condos 13%
A house typically sold for $202K in the last year (4661 sales), a condo for $158K (331).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Memphis ranks 67th of 108 busy Tennessee markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Memphis is in the middle of the pack.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Memphis home costs about $1,189 a month
Price: Memphis’ typical sale, last 12 months. Property tax at Memphis’ 1.1% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Memphis is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in June
The month with the most choice. December has the fewest, about 471.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $194K home, about $2,110 a year.
Taxes vs. neighborsSchools
The schools grade for Memphis, from test results, graduation and how much students grow.
Schools in MemphisCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
No busy market nearby sells for less a square foot; Germantown, Southaven, Bartlett and Lynchburg for far more
The busier markets within 25 miles of Memphis, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Memphis | 5,268 | $194K | $125 | 13% | 45 |
| Southaven | 718 | $298K | $158 | 17% | 38 |
| Bartlett | 672 | $321K | $158 | 17% | 31 |
| Olive Branch | 616 | $325K | $155 | 15% | 47 |
| Germantown | 612 | $488K | $172 | 12% | 38 |
| Horn Lake | 224 | $227K | $155 | 17% | 32 |
| Lynchburg | 65 | $308K | $167 | 6% | 46 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Memphis, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Memphis. People who follow the town see it, and so do people comparing Memphis with their own town. No commission, no listing fee.
Questions about buying a home in Memphis
What do homes sell for in Memphis, TN?
5,268 homes sold in the year to May 2026 at a typical $194K, $125 a square foot. Houses sold for about $202K, condos for about $158K.
Is Memphis a buyer’s or seller’s market?
A balanced market: 2539 homes were for sale in May 2026 and 449 sold, about 5.7 months of supply. Buyers paid 95.4% of asking on average, and 28% of listings cut their price.
When is the best time to buy in Memphis?
June brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Memphis?
About 1.1% of a home’s value a year. On a $194K home that’s near $2,110.
Where can I see homes for sale in Memphis?
Zillow, Redfin, Realtor.com and Homes.com all carry Memphis’ MLS listings; the search links above open each one filtered to Memphis.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).