38107 — Shelby County, Tennessee Market Snapshot
Housing market data for zip code 38107 in Shelby County, Tennessee. Updated monthly with median prices, days on market, and more.
Market Sales Data
40 sales in 2026 (year to date)
Median Sale Price
$180,000
Days to Sell
70
Homes Sold
40
Inventory
85
Sale-to-List
95.6%
New Listings
74
Price/SqFt
$134
Pending Sales
55
Conforming Loan Available
Most homebuyers in 38107 can comfortably use conventional financing. The median home price of $180,000 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
With homes sitting for 70 days on average, 38107 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
The average home in 38107 sells for 4.4% below asking price (95.6% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 38107 can comfortably use conventional financing. The median home price of $180,000 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 38107 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 38107
To purchase the median home at $180,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,529.
Monthly Payment
$1,529
Income Required
$65,533
Principal & Interest
$1,109/mo
Down Payment (5%)
$9,000
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 38107.
Estimated Monthly Payment
$1,264
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