Shelby County Home Prices & Values

$94,800 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 4.3% 1-year change
  • 3.2% 1-year forecast

The median home value in Shelby County is $94,800. Shelby County home values have gone up 4.3% over the past year and Zillow predicts they will rise 3.2% within the next year. The median list price per square foot in Shelby County is $71, which is lower than the Memphis Metro average of $79. The median price of homes currently listed in Shelby County is $139,000 while the median price of homes that sold is $155,625. The median rent price in Shelby County is $900, which is the same as the Memphis Metro median of $900.

Foreclosures will be a factor impacting home values in the next several years. In Shelby County 9.7 homes are foreclosed (per 10,000). This is greater than the Memphis Metro value of 9.0 and also greater than the national value of 4.8

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Shelby County is 7.1%, which is lower than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Shelby County homeowners underwater on their mortgage is 28.8%, which is higher than Memphis Metro at 26.9%.

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Relative ZHVI
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Shelby County Market Overview

Data through May 31, 2014
  • $94,800 ZHVI
  • 3.2% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (May 31, 2015)
  • $139,000 Median listing price
  • $155,625 Median sale price
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Shelby County Market Health

Data through May 31, 2014
  • 1.4/10 Less healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • 110 Average of days on Zillow (Apr 30, 2014)
  • 28.8% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 7.1% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

9.7 homes Shelby County
9 homes Memphis Metro
4.8 homes United States
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Cities in Shelby County

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Germantown $270,900 Collierville $261,900 Lakeland $231,600
Arlington $202,600 Bartlett $153,000 Millington $101,100
Memphis $66,200    

Listings & Sales

Data through May 31, 2014
  • $71 Median list price / sq ft
  • $80 Median sale price / sq ft
  • 24.8% Listings with price cut
32.4%
Sold below listing
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Shelby County Rentals

Data through May 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,001 Shelby County
$1,030 Memphis Metro
$1,310 United States
  • 2.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $900 Rent list price
  • $0.66 Rent list price / sq ft
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