Name: Off-Market Within 2 Weeks — 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 share of homes in Memphis (38116) went off-market within 2 weeks?

Accepted Answer

In ZIP 38116, 36.0% of Single Family Residential homes went under contract within two weeks of listing for the 90-day period ending 2026-03-31, based on Redfin closed sale data.

Question 2

What does the off-market-within-2-weeks rate in 38116 mean for sellers?

Accepted Answer

An off-market-within-2-weeks rate of 36.0% means that share of Single Family Residential homes in ZIP 38116 went under contract within 14 days of hitting the market, based on closed transactions in the 90-day period ending 2026-03-31. A higher rate signals a faster-moving market where homes are being absorbed quickly. A lower rate means most homes take longer to find a buyer.

Question 3

How is the off-market-within-2-weeks rate in 38116 calculated?

Accepted Answer

The off-market-within-2-weeks rate for ZIP 38116 counts the share of closed Single Family Residential sale transactions where the home went under contract within 14 days of its list date, over the 90-day period ending 2026-03-31. It is derived from closed transaction data recorded by Redfin — not from active listings or estimates.

Question 4

Is the off-market-within-2-weeks rate in 38116 higher or lower than last year?

Accepted Answer

The share of Single Family Residential homes in ZIP 38116 going under contract within two weeks is up 1.2 percentage points compared to the same 90-day period one year ago, as of March 31, 2026. A rising rate means more homes are being absorbed quickly; a falling rate means buyers are taking longer to commit.

Question 5

How many homes does the off-market-within-2-weeks rate in 38116 represent?

Accepted Answer

The off-market-within-2-weeks rate of 36.0% is derived from 31 closed Single Family Residential transactions in ZIP 38116 for the 90-day period ending 2026-03-31. Approximately 11 of those 31 homes went under contract within two weeks of listing. Data source: Redfin.

Question 6

How does the off-market-within-2-weeks rate in 38116 relate to pending sales?

Accepted Answer

In ZIP 38116, there were 50 pending Single Family Residential sales as of the 90-day period ending 2026-03-31. Of the homes that eventually closed, 36.0% went under contract within two weeks of listing. Pending sales reflect current demand; the off-market-within-2-weeks rate reflects how quickly that demand was converting during the data period.

36.0% of homes in 38116 went under contract within 2 weeks.