Memphis, TN Foreclosures
How much do homes sell for in Memphis, TN?
The average home price is currently $210,162.
In Memphis, TN, how many homes are available?
There are currently 356 active home listings available in Memphis.
What’s the average rental cost in Memphis, TN?
The average rental price in Memphis is $1,177.
What is the most expensive home in Memphis?
The most expensive home sold in Memphis had a price of $100,189,616.
What is currently the cheapest priced home in Memphis, TN?
The cheapest home for sale in Memphis is priced at $10,006.
Living in Memphis, TN
Memphis, TN is a vibrant city known for its rich cultural history, particularly in music and cuisine. With diverse neighborhoods, a low cost of living, and ample local amenities, it offers an attractive lifestyle for families and young professionals. The city is also recognized for its outdoor activities and strong community presence.
Current Market Conditions in Memphis, TN
The real estate market in Memphis remains competitive, with a steady demand for homes across various price ranges. Neighborhoods like Midtown and East Memphis are particularly sought after, boasting a mix of historic homes and contemporary developments. Overall, the market is steady with gradual price appreciation, positioning Memphis as a favorable destination for both buyers and investors.
Currently, the median home price in Memphis is affordable compared to many other urban areas, making it appealing for first-time homebuyers. Inventory levels are fluctuating, but overall, homes are selling relatively quickly in desirable locations.
Home Value Estimator For Memphis, TN
There are currently 206,013 real estate properties
in Memphis, TN,
with a median automated valuation model (AVM) price
of $154,869.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Memphis, TN, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Memphis, TN,
is $210,162.00, with the most expensive house
in Memphis, TN, topping out
at $100,189,616.00 and the cheapest home
in Memphis, TN,
clocking in at $10,006.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Memphis, TN!
Rent Prices
In Memphis, TN
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Memphis, TN, is on
a rollercoaster ride. The
average rent price in Memphis, TN,
is $1,177.00. Indeed, when looking to rent in
Memphis, TN, you can expect to pay as little
as $460.00 or as much
as $4,140.00,
with the average rent median estimated to
be $1,090.00. The good news is that finding
an affordable and desirable property to rent in Memphis, TN
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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