38119 — Shelby County, Tennessee Market Snapshot
Housing market data for zip code 38119 in Shelby County, Tennessee. Updated monthly with median prices, days on market, and more.
Market Sales Data
66 sales in 2026 (year to date)
Median Sale Price
$330,000
Days to Sell
77
Homes Sold
66
Inventory
58
Sale-to-List
97.0%
New Listings
74
Price/SqFt
$140
Pending Sales
73
Conforming Loan Available
Most homebuyers in 38119 can comfortably use conventional financing. The median home price of $330,000 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 77 days on average, 38119 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 38119 sells for 3.0% below asking price (97.0% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 38119 can comfortably use conventional financing. The median home price of $330,000 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 38119 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 38119
To purchase the median home at $330,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,678.
Monthly Payment
$2,678
Income Required
$114,787
Principal & Interest
$2,033/mo
Down Payment (5%)
$16,500
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 38119.
Estimated Monthly Payment
$2,192
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