Name: Median Sale Price — ZIP 38116 All Residential, March 31, 2026
Creator: Range Ranger
Published: 2026-03-31
License: https://redfin.com/news/data-center

Question 1

What was the median sale price in Memphis (38116)?

Accepted Answer

The median sale price for All Residential homes in ZIP 38116 was $164,950 for the 90-day period ending 2026-03-31, based on Redfin closed sale data.

Question 2

What does the median sale price in 38116 mean for sellers?

Accepted Answer

The median sale price reflects what All Residential homes in ZIP 38116 have actually closed for, not what they were listed at. At $164,950, this is the midpoint of all closed transactions in the 90-day period ending 2026-03-31. Half of homes sold for more; half sold for less.

Question 3

How is the median sale price in 38116 calculated?

Accepted Answer

The median sale price for ZIP 38116 is derived from closed sale transactions recorded over the 90-day period ending 2026-03-31. It is the midpoint value — not an average — across all All Residential sales in that period. Data source: Redfin.

Question 4

Is the median sale price in 38116 higher or lower than last year?

Accepted Answer

The median sale price in ZIP 38116 is up 15.3% compared to the same 90-day period one year ago, as of March 31, 2026.

Question 5

How does the median sale price compare to the median list price in 38116?

Accepted Answer

In ZIP 38116, the median list price was $169,999 and the median sale price was $164,950 for the 90-day period ending 2026-03-31. Homes closed at a median of $5,049 below asking.

Median sale price in 38116 was $164,950, up 15.3% from last year.