Home Values

38127 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$40,800

  • -7.1% 1-year change
  • -0.5% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this zip code relative to other zip codes in the same metropolitan area. A particular zip code may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Hot

Buyers' Market
Sellers' Market

The median home value in 38127 is $40,800. 38127 home values have declined -7.1% over the past year and Zillow predicts they will fall -0.5% within the next year. The median list price per square foot in 38127 is $21, which is lower than the Memphis Metro average of $77. The median price of homes currently listed in 38127 is $25,000 while the median price of homes that sold is $30,750. The median rent price in 38127 is $655, which is lower than the Memphis Metro median of $900.

Foreclosures will be a factor impacting home values in the next several years. In 38127 11.1 homes are foreclosed (per 10,000). This is greater than the Memphis Metro value of 8.9 and also greater than the national value of 4.5

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Relative ZHVI
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38127 Market Overview

Data through Oct 31, 2014
  • $40,800 ZHVI
  • -0.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $25,000 Median listing price
  • $30,750 Median sale price
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38127 Market Health

Data through Oct 31, 2014
  • 0.0/10 Less healthy
    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.
  • No data Average days on Zillow
  • No data Homes with negative equity (17.0% US Avg)
  • No data Delinquent on mortgage (6.9% US Avg)

Homes foreclosed (per 10,000)

11.1 homes 38127
8.9 homes Memphis Metro
4.5 homes United States
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Nearby Zip Codes

Name Median ZHVI
38103 $212,600
38128 $63,800
38107 $46,400
Name Median ZHVI
38112 $43,800
38105 $43,300
38108 $33,100

Listings & Sales

Data through Oct 31, 2014
  • $21 Median list price / sq ft
  • $20 Median sale price / sq ft (Sep 30, 2014)
  • 27.5% Listings with price cut
27.3%
Sold below listing
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38127 Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $680 38127
    $1,063 Memphis Metro
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 0.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $655 Rent list price
  • $0.55 Rent list price / sq ft
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