38104 — Shelby County, Tennessee Market Snapshot
Housing market data for zip code 38104 in Shelby County, Tennessee. Updated monthly with median prices, days on market, and more.
Market Sales Data
61 sales in 2026 (year to date)
Median Sale Price
$325,000
Days to Sell
42
Homes Sold
61
Inventory
114
Sale-to-List
98.3%
New Listings
131
Price/SqFt
$173
Pending Sales
76
Conforming Loan Available
Most homebuyers in 38104 can comfortably use conventional financing. The median home price of $325,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
38104's market is balanced with homes taking an average of 42 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
Homes are selling very close to asking price in 38104 (98.3% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 38104 can comfortably use conventional financing. The median home price of $325,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 38104 are set at the county level.
2026 Loan Limits — Shelby County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 38104
To purchase the median home at $325,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,640.
Monthly Payment
$2,640
Income Required
$113,145
Principal & Interest
$2,003/mo
Down Payment (5%)
$16,250
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 38104.
Estimated Monthly Payment
$2,161
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