property

Memphis Home Prices Jump 4.7% as Neighborhoods Show Steady Growth

Second-quarter data show steady gains in several established neighborhoods even as national events draw attention elsewhere.

By Memphis Property Desk · Published July 8, 2026

How we reported this

This article was written by AI from the linked sources and was not reviewed by a journalist before publishing. The Daily Memphis is part of The Daily Network and follows our reasonable editorial care.

Daily Network finance briefing tile, illustration, not a photograph

Memphis median sale prices climbed 4.7 percent in the April-through-June quarter compared with the same stretch in 2025.

The increase arrives while buyers track mortgage rates that have hovered near 6.3 percent and while national attention focuses on events far from Shelby County. Local transactions still closed at a pace that matched last year’s volume, according to closing records filed through the end of June.

Activity concentrated in Midtown and East Memphis. Homes on Cooper Street inside the Cooper-Young district sold at a median of $315,000, while properties near the Memphis Brooks Museum of Art in Overton Park moved at a median of $342,000. Both figures exceeded the citywide median and reflected buyer interest in walkable blocks with established retail corridors.

Inventory and Sales Patterns

The Memphis Area Association of Realtors released its quarterly summary on July 7. It listed 2,150 active residential listings on July 1, down 180 from the same date in 2025. The median sale price reached $298,400, up from $285,000 twelve months earlier. Days on market averaged 42, three days shorter than the prior-year quarter.

East Memphis posted the largest year-over-year gain at 6.2 percent, followed by the South Main district at 5.1 percent. Binghampton listings rose 3.9 percent, still above the city average.

Next Steps for Buyers and Sellers

Agents recommend pulling current comps from the Mid-South Multiple Listing Service before making offers this month. Sellers who price within 3 percent of recent neighborhood sales in Cooper-Young or Overton Park continue to see multiple bids within the first two weeks. Prospective buyers should review updated financing pre-approvals, since rate movement could shift monthly payments by several hundred dollars on a $300,000 loan.

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.

References Sourced but Not Limited to:

Your newsroom. Shaped by you.

The Daily Memphis is in beta. AI may assist with research, summarising and drafting. Automated checks assess sourcing, accuracy and editorial risk before publication, and sensitive material is held for human review. Spotted something off, or want us covering a topic? Tell us. Your feedback is entirely optional and helps shape what we publish next.