Name: Median Price Per Square Foot — ZIP 38116 Single Family Residential, March 31, 2026
Creator: Range Ranger
Published: 2026-03-31
License: https://redfin.com/news/data-center

Question 1

What was the median price per square foot in Memphis (38116)?

Accepted Answer

The median sale price per square foot for Single Family Residential homes in ZIP 38116 was $103/sqft for the 90-day period ending 2026-03-31, based on Redfin closed sale data.

Question 2

What does the median price per square foot in 38116 mean for sellers?

Accepted Answer

The median sale price per square foot reflects what buyers paid per square foot across closed Single Family Residential transactions in ZIP 38116 for the 90-day period ending 2026-03-31. At $103/sqft, this is the midpoint of all closed sales on a per-square-foot basis. Half of homes sold at a higher per-square-foot price; half sold at a lower one.

Question 3

How is the median price per square foot in 38116 calculated?

Accepted Answer

The median price per square foot for ZIP 38116 is derived from closed Single Family Residential sale transactions recorded over the 90-day period ending 2026-03-31. For each transaction, the sale price is divided by the home’s square footage. The median of those per-square-foot values is the reported figure. It is the midpoint — not an average — across all qualifying transactions. Data source: Redfin.

Question 4

Is the price per square foot in 38116 higher or lower than last year?

Accepted Answer

The median sale price per square foot for Single Family Residential homes in ZIP 38116 is up 6.6% compared to the same 90-day period one year ago, as of March 31, 2026.

Question 5

How does the price per square foot in 38116 compare to what sellers are asking?

Accepted Answer

In ZIP 38116, the median sale price per square foot was $103/sqft and the median list price was $174,900 for the 90-day period ending 2026-03-31. The sale PPSF reflects what buyers actually paid on a per-square-foot basis in closed transactions — not what sellers asked.

Question 6

How many homes does the price per square foot figure in 38116 represent?

Accepted Answer

The median price per square foot of $103/sqft for ZIP 38116 is derived from 31 closed Single Family Residential transactions in the 90-day period ending 2026-03-31. Each transaction contributes one sale-price-to-square-footage observation. Data source: Redfin.

Median price per square foot in 38116: $103/sqft, up 6.6% from last year.