Memphis Home Prices Set a Record on a Third Fewer Sales
Memphis home prices hit a record median in 2026, on a third fewer sales than the 2021 peak, while quick flips fell to their smallest market share we have measured.
Two things are true at once in the Memphis deed record as of August 2026, and they pull in opposite directions.
The price record is real. The volume is not there.
The typical Memphis home now sells for about $221,000. That is the highest median in the nine years of recordings we track, up from $153,000 in 2018. If you only looked at price, you would call this a hot market.
Volume says otherwise. Through August, about 8,500 homes have traded hands this year. At the 2021 peak, the full-year count ran near 21,000. The record price is being set on roughly a third fewer sales than the market produced at its busiest. Fewer sellers are willing to move, and the buyers still in the market are competing for a thinner supply.
| Year | Median sale price | Homes sold |
|---|---|---|
| 2018 | $153,000 | 17,764 |
| 2021 | $202,000 | 20,976 |
| 2022 | $215,000 | 19,400 |
| 2024 | $200,000 | 14,653 |
| 2025 | $215,000 | 14,065 |
| 2026 through August | $220,850 | 8,464 |
The quick-flip trade is thinning out
The flip market tells the same story from another angle. We count a quick flip as two consecutive warranty deeds on one parcel: a middle party buys, then resells inside 90 days to a different end buyer, family transfers excluded. Comparing January through August of every year so the part-year compares like for like, that trade peaked at 3.3 percent of Memphis sales in 2024. This year it is 2.4 percent, the smallest share in our series. The easy spread between a distressed purchase and a retail resale has largely closed. Our flip and renovation cost report breaks down what the deals that still work look like.
What this means if you own or want to buy
If you own a Memphis rental, the equity story is strong, and the case for selling into it is weaker than it looks. The same thin supply propping up your sale price also props up rents; you can see current asking rents on our rent by bedroom page. If you are buying, the discount pipeline that fed the flip trade is drying up, so underwriting on today's comps matters more than counting on a below-market entry. Out-of-state buyers have already pulled back to 18 percent of purchases, the lowest share in nine years, which says the national money reached the same conclusion.
Both charts behind this piece are built from the Shelby County Register of Deeds record, every recorded warranty deed of $20,000 or more inside Memphis, and they refresh as new deeds record. You can see them with the rest of our live market charts on the Memphis rental data page, and the always-current market report lives at Memphis real estate statistics.
Quick answers
Are Memphis home prices going up in 2026?
Yes. The median recorded sale is about $221,000 through August 2026, the highest in the nine years of deed records we track. But sales volume is roughly a third below the 2021 peak, so the record sits on far fewer transactions.
Is flipping still common in Memphis?
Less than it was. Quick flips, where a middle party buys and resells inside 90 days, peaked at 3.3 percent of sales in 2024 and have slipped to 2.4 percent through August 2026, the smallest share in our series.
Should I sell my Memphis rental while prices are at a record?
The same thin supply pushing up sale prices also supports rents, so holding often pays. Run the numbers both ways before deciding; we can price your property as a sale or a rental from the same data.
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