Memphis Real Estate Market Update — November

Memphis homes are taking longer to sell than they did a year ago — and that gap is your opening. If you're wholesaling in Shelby County right now, the November 2026 numbers tell a clear story about where the leverage sits.

Key Takeaways

• Memphis homes sat on the market a median of 72 days as of September 2026, up from 67 days a year earlier.
• Active listings climbed to 5,404, a meaningful jump from 4,997 the prior September — more inventory to work with.
• The median listing price held at $299,950, roughly flat year over year but down from the $328,550 seen in September 2025.
• Memphis is running hotter on days-on-market than the national figure of 61 days, which means more seller fatigue to exploit.
• The 30-year fixed mortgage rate jumped to 7.24% by late October, squeezing buyer demand and pushing sellers toward creative deals.

What is happening in the Memphis real estate market right now?

Memphis is a slow-moving, inventory-heavy market heading into November 2026. Homes are lingering, listings are stacking up, and prices have settled into a narrow band just under $300,000.

That combination — more supply, longer timelines, flat prices — is the classic setup wholesalers wait for. Sellers who list and don't move get motivated. And motivated sellers are who you want on the phone.

Let's break down each piece of the puzzle.

Days on market: the slowdown is real

As of September 2026, the median Memphis home took 72 days to sell. That's up from 67 days in September 2025.

The trend line matters more than the single number. Look at how the year unfolded: days on market spiked to 81 in January 2026, dropped fast to 54 by April, then climbed steadily back to 72 by September.

That spring dip was the buying season doing its usual work. The climb since then is the market cooling into fall — and it's the part that helps you most. Every extra week a home sits unsold is another week a seller's resolve wears down.

Active listings: more homes, more options

There were 5,404 active listings in Memphis as of September 2026, compared with 4,997 a year earlier.

The inventory curve tells a story of its own. Listings bottomed out at 4,338 in February 2026, then climbed every month through the summer, peaking at 5,451 in August before easing slightly.

More active listings means more competition for sellers — and more raw material for you. When a seller sees comparable homes sitting for months, your cash offer starts to look a lot more attractive.

Median listing price: flat, not falling off a cliff

Memphis' median listing price was $299,950 in September 2026. That's essentially flat from the prior month and down from $328,550 in September 2025.

Here's the nuance: prices dropped sharply from late 2025 into early 2026, then stabilized. From April through September 2026, the median bounced in a tight range between about $300,000 and $304,495. That's a market finding its floor, not collapsing.

For you, that means your comps are more predictable than they were six months ago. Pricing an offer is less of a guessing game when the median isn't swinging wildly month to month.

How does Memphis compare to the national market?

Memphis is moving slower than the country as a whole. The national median days on market was 61 in September 2026, while Memphis sat at 72 — an 11-day gap.

That gap is your edge. A slower local market means local sellers feel the pain sooner and more acutely than the average American homeowner.

Metric	Memphis	National
Median days on market (Sept 2026)	72 days	61 days
Trend vs. prior year	Up (from 67)	Down (from 62)
Direction into fall	Slowing	Slowing

Notice the year-over-year difference. Memphis days on market rose from 67 to 72, while the national figure actually fell from 62 to 61. Memphis is softening faster than the country — a local signal worth paying attention to.

What the mortgage rate is doing to demand

The 30-year fixed mortgage rate climbed to 7.24% as of October 29, 2026, up from 6.65% in late August.

That's a fast move. Higher rates knock marginal buyers out of the market, which pushes even more sellers toward alternatives like cash offers and seller financing. When a retail buyer's monthly payment jumps, your all-cash deal gets more competitive by default.

The national price picture as context

The median sales price of houses sold nationally was $393,300 in the third quarter of 2026, down from $410,100 a year earlier. That's a national cooling trend, and Memphis is riding the same wave — just with its own local flavor.

Why does this matter for Memphis wholesalers?

The November 2026 Memphis market gives wholesalers more motivated sellers and more predictable pricing than they had a year ago. That's the short version.

Here's the longer one. When days on market stretch past 70 and listings climb above 5,400, you get a specific kind of seller: someone who listed at a hopeful price, watched it sit, and is now facing a decision. Do they cut the price, rent it out, or take a cash offer?

That third option is where you come in.

Seller fatigue is your best lead source

A home sitting 72 days isn't a failure — it's a signal. Sellers in that window are the ripest leads in the market.

Build your list around it:

1. Pull expired and long-days-on-market listings from your data tool weekly.
2. Cross-reference against absentee owners and out-of-state mailing addresses.
3. Prioritize properties listed 60+ days with no price cut.
4. Reach out with a specific, honest cash offer — not a generic mailer.

Flat pricing makes your offers easier to defend

With the median holding near $300,000 for six straight months, your comps are stable. That means you can walk into a seller conversation with a defensible number instead of a range you're unsure about.

Stable comps also make it easier to explain your offer. "Here's what homes like yours are listing at, here's how long they're sitting, and here's why my cash number works" is a much stronger pitch in a flat market than a hot one.

Higher rates push sellers toward creative deals

At 7.24%, retail buyers are stretched. Sellers who need to move may be more open to subject-to, seller financing, or a straightforward cash close.

That widens your toolkit. You're not just competing on price — you're competing on certainty and speed, which matter more when buyers are scarce.

How should wholesalers adjust their strategy this fall?

Lean into the slowdown instead of fighting it. The Memphis market is rewarding patience, data, and follow-up right now — not volume blasting.

Here's how to adjust.

Tighten your lead filters

With 5,404 active listings, you can afford to be picky. Focus on the subset that's actually motivated:

• 60+ days on market
• No price reductions (signals a stubborn seller who may now be ready)
• Absentee or out-of-state ownership
• Equity position that supports a cash offer

Build a follow-up system that doesn't drop leads

Slow markets mean longer sales cycles — for you too. A seller who isn't ready in October might be ready in December. If your follow-up lives in a spreadsheet, leads fall through.

A CRM with automated sequences keeps you in front of sellers without manual work. That's the difference between catching a motivated seller on day 90 and missing them entirely.

Practice the conversation before you dial

More motivated sellers means more calls — and the call is where deals are won or lost. A seller at 72 days on market is often frustrated, skeptical, and tired of agents. Your tone and framing matter.

If you want to sharpen that before your next batch of dials, you can practice against a realistic AI seller first with our free AI Cold Call Trainer. It takes no signup to start, and it's a low-pressure way to work out your opening before you're on a live call.

What tools help you work a slower Memphis market?

A slower market rewards better data and tighter follow-up, not more dials. The right stack does three things: finds motivated sellers, keeps them warm, and gets you on the phone efficiently.

The Wholesale REI directory tracks 65 tools across 9 categories, so you can match your stack to the market instead of guessing.

Here's where to focus given the current Memphis conditions:

• Data and list-building: Pull long-days-on-market and absentee-owner lists with a property data tool.
• CRM and follow-up: Automate multi-touch sequences so slow-cycle leads don't go cold.
• Dialing and call tracking: Work more leads per hour with a power dialer.
• Lead generation: Supplement your list with targeted seller leads.

Matching tools to the moment

When days on market stretch and listings climb, your data tool does the heavy lifting. When rates rise and sellers get creative, your CRM keeps the conversation alive. And when you're making more calls to more motivated sellers, your dialer decides how many conversations you actually have.

Don't buy everything at once. Start with the gap that's costing you deals right now.

The Bottom Line

Memphis is a slower, inventory-rich market heading into November 2026 — 72 days on market, 5,404 active listings, and a median list price holding near $299,950. That's more motivated sellers and more predictable comps than you had a year ago, and higher mortgage rates are pushing even more sellers toward cash and creative deals. Your next step: compare data, CRM, and dialer tools in the directory so your stack is ready for the fall selling season.