New Memphis, IL Foreclosures
How much do homes sell for in New Memphis, IL?
The average home price is currently $134,631.
In New Memphis, IL, how many homes are available?
There are currently 77 active home listings available in New Memphis.
What’s the average rental cost in New Memphis, IL?
The average rental price in New Memphis is $1,039.
What is the most expensive home in New Memphis?
The most expensive home sold in New Memphis had a price of $278,002.
What is currently the cheapest priced home in New Memphis, IL?
The cheapest home for sale in New Memphis is priced at $13,696.
Living in New Memphis, IL
New Memphis, IL is a quaint village offering a peaceful rural lifestyle with a strong sense of community. It is conveniently located near larger towns, providing access to essential amenities while maintaining a charming, quiet atmosphere. Residents enjoy outdoor activities and local schools that prioritize education and community engagement.
Current Market Conditions in New Memphis, IL
The real estate market in New Memphis has shown stable growth over the past few months. Despite being a small village, demand for homes continues to rise as many individuals seek serene living away from the busy metropolitan areas. The average home prices have gradually increased, reflecting a growing interest in the community by both new buyers and investors.
Currently, inventory is limited, contributing to a competitive market, particularly for single-family homes. Many houses receive multiple offers, especially those that are well-maintained and located within desirable neighborhoods. Buyers are encouraged to act quickly, as properties often go under contract within a short timeframe.
Home Value Estimator For New Memphis, IL
There are currently 83 real estate properties
in New Memphis, IL,
with a median automated valuation model (AVM) price
of $133,826.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in New Memphis, IL, 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 New Memphis, IL,
is $134,631.00, with the most expensive house
in New Memphis, IL, topping out
at $278,002.00 and the cheapest home
in New Memphis, IL,
clocking in at $13,696.00. In other words, there’s
something for every potential homebuyer
or savvy investor in New Memphis, IL!
Rent Prices
In New Memphis, IL
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in New Memphis, IL, is on
a rollercoaster ride. The
average rent price in New Memphis, IL,
is $1,039.00. Indeed, when looking to rent in
New Memphis, IL, you can expect to pay as little
as $800.00 or as much
as $1,320.00,
with the average rent median estimated to
be $1,010.00. The good news is that finding
an affordable and desirable property to rent in New Memphis, IL
-- 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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