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Memphis Home Prices Post 4.2 Percent Quarterly Growth Versus Same Time Last Year
Second-quarter figures show median sale prices climbing to $285,000 across Shelby County listings tracked through June.
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How we reported this
Memphis residential properties recorded a 4.2 percent rise in median sale prices for the second quarter of 2026 when compared with the same three months in 2025.
The increase arrives as mortgage rates hover near 6.8 percent and local inventory sits at roughly 2,800 active listings, down 11 percent from July 2025 levels. Buyers and sellers in Shelby County are watching how these numbers interact with employment gains at FedEx and the continued redevelopment of older commercial corridors.
Neighborhood price shifts
Cooper-Young posted the strongest quarterly gain among monitored districts, with median prices reaching $312,000, up 6.1 percent year over year. Properties along McLean Boulevard and near the intersection with Central Avenue moved fastest, often closing within 18 days. East Memphis along Poplar Avenue between Perkins and Mendenhall showed a more modest 3.8 percent lift, with the median at $298,500. Data from the Memphis Area Association of Realtors multiple listing service recorded 214 closed sales in those two zones combined during the quarter.
Farther south, the South Main Historic District saw 27 single-family transactions, producing a median of $267,000. That figure reflects a 4.9 percent increase over the second quarter of 2025. Listings in the 38103 zip code benefited from proximity to the National Civil Rights Museum and new loft conversions on Main Street.
Buyer considerations
Local agents report that homes priced between $250,000 and $350,000 continue to draw multiple offers when they meet basic inspection standards. Prospective purchasers are advised to review recent comparable sales through the Shelby County Assessor’s online portal before submitting offers. Those seeking to lock in rates may want to consult lenders familiar with Memphis-specific down-payment assistance programs administered by the city’s Division of Housing and Community Development. Inventory is expected to rise modestly in the third quarter as more listings from the University District and Binghampton reach the market.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.