Homes for Sale in Collierville TN: 2026 Buyer's Guide

If you are shopping homes for sale in Collierville TN, here is the snapshot: Realtor.com's market page for Collierville, Tennessee (Shelby County), with key indicators as of September 2026 and read September 30, 2026, showed 395 active listings at a median list price of $585,000 - a list figure, not a sold one - with the typical listing sitting 75 days. Homes actually sell for less: Redfin's calculations from MLS and public-record data put the median sale price for the 38017 ZIP at $554,260 for the three months ending August 2026. Inventory is down 7.3% from a year earlier on Realtor.com's count, so Collierville is not getting the flood of new listings some other suburbs are.

I'm Matt Mitchell. My family has been selling homes around Memphis for three generations, and Collierville is one of the markets I get asked about most. Here is how I help buyers read what is actually on the market right now.

What homes for sale in Collierville TN look like right now

Collierville is the easternmost of Shelby County's six suburban municipalities, and its 395 active listings (Realtor.com, read September 30, 2026) are not one market. Based on what I see in the MLS every week, they fall into four rough groups:

• Around the Historic Town Square and older central Collierville: 1970s-1990s brick ranches and two-stories, often 1,600-2,400 square feet on established lots. This is the most affordable way to buy inside the town limits, and it is where most listings under about $450,000 sit.
• The 1990s-2000s family subdivisions: the bulk of the market, north and south of Poplar Avenue - 2,500 to 3,500 square feet, four or five bedrooms, and the band where the town's median lands.
• East-side estate homes: larger lots and custom builds toward the Fayette County line, frequently $800,000 and up.
• New construction: a thin but steady layer of builder inventory, covered below.

Condos and townhomes are a small slice of Collierville's inventory. If attached living is what you want, my Collierville condos and townhomes page lists where they are.

What do homes in Collierville actually sell for?

The gap between asking and closing is the most useful number on this page. Realtor.com's September 2026 median list price for Collierville, TN was $585,000, down 0.09% from a year earlier. Redfin's figures, based on its calculations of home data from MLS and public records and read September 30, 2026, show what closed: in the 38017 ZIP, a median sale price of $554,260 for the three months ending August 2026, up 0.3% year over year, on 251 August sales. Part of that gap is mix - pricier homes take longer to sell and pile up in the active count - and part is negotiation.

Redfin's 38017 numbers for the same period show a 98.2% sale-to-list ratio, 9.0% of homes selling above list, and 41.0% taking at least one price drop, with a median of 40 days on market, up from 34 a year earlier. Read together: a well-priced Collierville home still sells in about six weeks at close to its final asking price, but four in ten sellers had to cut first. As a buyer, do not anchor on the list price of a home that has been up for 75-plus days. For a deeper dive on the sold side, including why the 38017 median runs higher than the town's own median, see my guide to the average home price in Collierville.

Is new construction worth a look in Collierville, TN?

It is, if you can live with a smaller lot. Collierville is largely built out, so new homes come from a handful of infill and edge communities rather than big master-planned tracts. One example: Grant & Co.'s available-homes page for Collierville, TN, read September 30, 2026, listed eight move-in-ready homes in its Lockwood community (38017 addresses) from $439,950 for a four-bedroom, 2,000-square-foot plan to $614,255 for a 3,020-square-foot plan. Those are builder asking prices, not closed sales.

Compare the price per foot. Lockwood's 1,924-square-foot Ellington plan at $444,950 works out to about $231 a square foot; Realtor.com's September 2026 figure for all Collierville listings was $187 a square foot. You pay a premium for new, and you get a warranty, modern systems and a builder who may pay closing costs or buy down your rate on inventory homes. My Collierville new-construction page walks through the trade-offs, and a buyer's agent costs you nothing extra at a builder's sales office.

Which Collierville address gets Collierville Schools?

This is the part that trips people up. Collierville Schools is one of seven districts in Shelby County, and it serves homes inside the Town of Collierville's municipal boundary - not the ZIP code and not the mailing address. The district runs Bailey Station, Collierville, Crosswind, Schilling Farms, Sycamore and Tara Oaks elementaries; Collierville Middle and West Collierville Middle; and Collierville High, its only high school.

A listing that says "Collierville, TN 38017" can sit outside town limits in unincorporated Shelby County, where the default district is Memphis-Shelby County Schools, or across the line in Fayette County, TN, where Fayette County Schools applies. Out-of-district transfers are requests, not rights, and Collierville has at times reported no space. Verify every address with the district's own zone locator before you write an offer - never a portal's school tab. My Collierville school zones guide explains how.

What will a Collierville home cost you each month?

Homes inside the town pay two property tax bills. Tennessee assesses residential property at 25% of appraised value; the Shelby County Trustee's rate table lists $2.702382 per $100 of assessed value for tax year 2026, and the Town of Collierville's tax page, read September 30, 2026, lists $1.62 per $100. On a $525,000 home that is $131,250 of assessed value - about $3,547 to the county and $2,126 to the town, roughly $5,673 a year or $473 a month.

On the loan side, Freddie Mac's Primary Mortgage Market Survey released September 24, 2026 put the 30-year fixed at 7.03%, up from 6.95% the week before, and the 15-year at 6.42%. That survey assumes 20% down, excellent credit and an owner-occupied purchase, so it is a benchmark, not a quote. At 7.03%, a $525,000 purchase with 10% down means a $472,500 loan and about $3,153 a month in principal and interest; add the $473 in tax and you are near $3,626 before insurance. With 41% of 38017 sellers already cutting price, asking for a seller-paid rate buydown is a reasonable move - my buydown guide shows how the math works.

How should you search for homes for sale in Collierville TN?

Get fully underwritten with a local lender before you tour, decide on schools and commute first, and set alerts for the subdivisions you actually want rather than the whole ZIP. Then use the data: fresh, well-priced listings in the $450,000-$600,000 band draw quick offers, while anything past 60 days is a negotiation. If Collierville stretches your budget, look just north at the Eads, TN neighborhoods, where larger lots are common. My buyer page covers getting started, and my free guides at /guides/ go deeper. I still preview most Collierville listings in person before I send them to a client - call or text me at (901) 590-5787 and I will do the same for you.

Market and rate figures as of September 30, 2026; rates change constantly — contact me for current numbers.