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Foreclosure Homes in Memphis, TN 38118

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Memphis, TN Foreclosures

How much do homes sell for in Memphis, TN?
The average home price is currently $208,290.
In Memphis, TN, how many homes are available?
There are currently 299 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 $66,590,124.
What is currently the cheapest priced home in Memphis, TN?
The cheapest home for sale in Memphis is priced at $10,013.

Living in Memphis, TN

Memphis, TN, is an eclectic city characterized by its rich musical history, vibrant food scene, and a strong sense of community. With landmarks like Beale Street and Graceland, Memphis offers a unique cultural experience. The area provides good educational facilities and various outdoor activities, making it an attractive place for families and investors.

Current Market Conditions in Memphis, TN

The Memphis real estate market has shown resilience and steady growth in recent years, with increased demand for housing, particularly in revitalized neighborhoods. Investors are noticing the rising home values and rental potential, driven by a balanced mix of historical charm and modern amenities.

Despite some areas experiencing fluctuations, the overall trend points towards a favorable market for both buyers and renters. With affordable property prices relative to the national average, Memphis is attracting investors looking for value and long-term appreciation.

Home Value Estimator For Memphis, TN

There are currently 205,559 real estate properties in Memphis, TN, with a median automated valuation model (AVM) price of $153,894.00. 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 $208,290.00, with the most expensive house in Memphis, TN, topping out at $66,590,124.00 and the cheapest home in Memphis, TN, clocking in at $10,013.00. 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.

Memphis, TN 38118 Foreclosures

Market Trend for Memphis, TN

Total Listings Available: 299

Market Values:

Home Prices from $10,013 to $66,590,124

Average Sales Price: $208,290

Rental Values:

Rental from $460 to $4,140

Average Rent Value: $1,177 / month

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