Memphis, TN 38116 Real Estate & Property Data

Memphis, TN 38116 Real Estate Market Trends
Last Updated: September 20, 2025

A total of 441 residential properties have been sold over the past 12 months in 38116. With a median sales price of $175,000 in 38116 and a total of 5 foreclosures in Memphis, TN 38116. Discover market trends and get the granular level real estate data for Memphis, TN 38116 to keep your pulse on the housing market. Curate compelling home reports for Memphis, TN 38116 from reliable property records is easy using the ATTOM platform as a source for state-of-the-art property reports.

Memphis, TN 38116 Real Estate Market Trends
Total Residential Properties 9,491
Total Commercial Properties 573
Avg. Home Age (Single Family Home) 63 Years
Avg. Square Feet (Single Family Home) 1,806
Total 2025 Residential Sales (year-to-date) 233
% of Homes Seriously Underwater (Q3 2025) 1.81%
Total 2024 Residential Sales 396
% of Equity Rich Homes (Q3 2025) 47.92%
Effective 2024 Property Tax 1.56%
Total Foreclosure Filings (year-to-date) 25
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Memphis, TN 38116 Real Estate Overview

There were 441 residential properties sold in the past year in Memphis, TN 38116. The median home value in Memphis, TN 38116 is $167,000. There are a total of 9,491 residential properties in the 38116.

Median Sales Price i
$175,000
(Jul 2025)
+17.4%
year-over-year
y-o-y
  • July '25 Jul '25 $175,000
  • June '25 Jun '25 $199,950
  • May '25 May '25 $195,000
  • April '25 Apr '25 $137,500
  • March '25 Mar '25 $141,000
  • February '25 Feb '25 $178,400
  • January '25 Jan '25 $160,000
  • December '24 Dec '24 $165,000
  • November '24 Nov '24 $165,000
  • October '24 Oct '24 $189,900
  • September '24 Sep '24 $152,800
  • August '24 Aug '24 $136,900
Median Down Payment i
$10,750
(Jul 2025)
-61.2%
year-over-year
y-o-y
  • July '25 Jul '25 $10,750
  • June '25 Jun '25 $49,980
  • May '25 May '25 $14,500
  • April '25 Apr '25 $4,619
  • March '25 Mar '25 $35,250
  • February '25 Feb '25 $21,200
  • January '25 Jan '25 $17,975
  • December '24 Dec '24 $23,850
  • November '24 Nov '24 $20,517
  • October '24 Oct '24 $22,000
  • September '24 Sep '24 $42,075
  • August '24 Aug '24 $8,025
Number of Homes Sold i
37
(Jul 2025)
-7.5%
year-over-year
y-o-y
  • July '25 Jul '25 37
  • June '25 Jun '25 28
  • May '25 May '25 27
  • April '25 Apr '25 34
  • March '25 Mar '25 37
  • February '25 Feb '25 36
  • January '25 Jan '25 34
  • December '24 Dec '24 33
  • November '24 Nov '24 36
  • October '24 Oct '24 34
  • September '24 Sep '24 25
  • August '24 Aug '24 40
Number of Purchase Loans i
32
(Jul 2025)
+33.3%
year-over-year
y-o-y
  • July '25 Jul '25 32
  • June '25 Jun '25 21
  • May '25 May '25 24
  • April '25 Apr '25 26
  • March '25 Mar '25 23
  • February '25 Feb '25 24
  • January '25 Jan '25 23
  • December '24 Dec '24 25
  • November '24 Nov '24 24
  • October '24 Oct '24 26
  • September '24 Sep '24 16
  • August '24 Aug '24 31
Number of REFI Loans i
19
(Jul 2025)
-13.6%
year-over-year
y-o-y
  • July '25 Jul '25 19
  • June '25 Jun '25 28
  • May '25 May '25 22
  • April '25 Apr '25 23
  • March '25 Mar '25 30
  • February '25 Feb '25 22
  • January '25 Jan '25 11
  • December '24 Dec '24 14
  • November '24 Nov '24 9
  • October '24 Oct '24 28
  • September '24 Sep '24 27
  • August '24 Aug '24 25
Number of HELOC Loans i
  • July '25 Jul '25 N/A
  • June '25 Jun '25 8
  • May '25 May '25 7
  • April '25 Apr '25 7
  • March '25 Mar '25 6
  • February '25 Feb '25 3
  • January '25 Jan '25 3
  • December '24 Dec '24 5
  • November '24 Nov '24 N/A
  • October '24 Oct '24 4
  • September '24 Sep '24 6
  • August '24 Aug '24 2

Memphis, TN 38116 Foreclosure Activity

There were a total of 5 Memphis, TN 38116 properties with a foreclosure filing in July 2025. Lenders started the foreclosure process on 5 Memphis, TN 38116 properties and repossessed 1 Memphis, TN 38116 properties through completed foreclosures (REOs) in July 2025.

Total Foreclosure Filings i
5
(Jul 2025)
+400%
year-over-year
y-o-y
  • July '25 Jul '25 5
  • June '25 Jun '25 4
  • May '25 May '25 4
  • April '25 Apr '25 4
  • March '25 Mar '25 2
  • February '25 Feb '25 3
  • January '25 Jan '25 3
  • December '24 Dec '24 3
  • November '24 Nov '24 1
  • October '24 Oct '24 4
  • September '24 Sep '24 5
  • August '24 Aug '24 7
Foreclosure Starts i
5
(Jul 2025)
+400%
year-over-year
y-o-y
  • July '25 Jul '25 5
  • June '25 Jun '25 4
  • May '25 May '25 4
  • April '25 Apr '25 4
  • March '25 Mar '25 2
  • February '25 Feb '25 3
  • January '25 Jan '25 3
  • December '24 Dec '24 3
  • November '24 Nov '24 1
  • October '24 Oct '24 4
  • September '24 Sep '24 5
  • August '24 Aug '24 7
Completed Foreclosures (REOs) i
1
(Jul 2025)
  • July '25 Jul '25 1
  • June '25 Jun '25 N/A
  • May '25 May '25 N/A
  • April '25 Apr '25 1
  • March '25 Mar '25 N/A
  • February '25 Feb '25 N/A
  • January '25 Jan '25 1
  • December '24 Dec '24 1
  • November '24 Nov '24 1
  • October '24 Oct '24 N/A
  • September '24 Sep '24 N/A
  • August '24 Aug '24 2
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