The story of this market
The typical home in ZIP 38104 sells for about $280,459, or $174 per square foot.
Prices are down 22% from a year ago, which gives buyers more room to negotiate. Homes take about 56 days to sell. HUD's fair market rent for a two-bedroom is $1,112 a month.
ZIP 38104 — Memphis
The 38104 housing market is experiencing a significant correction with median sale prices down 22% year-over-year. While sales volume has increased, the sharp decline in pricing and price-per-square-foot suggests a cooling trend in this specific Memphis ZIP code.
Median prices moved down 22.0% year over year.
Homes spend a median of 56 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.3% · poverty 16.0% — a stable, low-distress profile.
Built from 30 recorded sales in the last 24 months against HUD 3-bedroom fair market rents. The location premium is the part of the price that rent, income, education, employment, vacancy, price trend, hazard, lending and flood risk don't explain. It usually reflects amenities, schools and scarcity. It's area context and does not change this ZIP's home value estimates.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 38104
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Data sourced from US Census and ACS profiles.
- Dave & Buster's Memphis412.8 mi
- K1 Speed Memphis4.79.2 mi
- Urban Air Trampoline and Adventure Park4.212 mi
- Jumping World4.18.7 mi
- Urban Air Trampoline and Adventure Park4.218 mi
- Memphis Zoo4.61.3 mi
- FedExForum4.72.6 mi
- Crosstown Concourse4.71.5 mi
- Renasant Convention Center4.52.9 mi
- B.B. King's Blues Club4.62.8 mi
- Graceland4.56 mi
- Memphis Zoo4.61.3 mi
- National Civil Rights Museum4.93 mi
- Malco Paradiso4.56.3 mi
- Memphis Botanic Garden4.75.1 mi
- Graceland4.56 mi
- National Civil Rights Museum4.93 mi
- Crosstown Concourse4.71.5 mi
- Sun Studio4.81.9 mi
- Lorraine Motel4.93 mi
- Memphis Botanic Garden4.75.1 mi
- Shelby Farms Park4.89.8 mi
- Tom Lee Park4.63.3 mi
- Overton Park4.61.3 mi
- Crystal Shrine Grotto4.77.5 mi
- Topgolf Memphis3.512.2 mi
- Mirimichi Golf Course4.411.1 mi
- The Links at Audubon4.25.1 mi
- Links At Galloway Golf Course4.33.9 mi
- The Links at Fox Meadows4.28.7 mi
- Nordstrom Rack4.15.5 mi
- Winchester Farmers Market4.310.7 mi
- Burlington3.86.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
No county-record distress flags across 2 researched properties on the ARED base layer. Key-figure check: median price diverges 74.8% from the nearest retained anchor (researched-property base layer) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Validation: confirmed genuine market swing — the flagged $280,459 was independently re-read and corroborated by 2 source(s); it stands as the new anchor baseline.