Welcome to this overview of Memphis, a city in Tennessee with an interesting real estate market. In this text, we’ll provide you with insights on the city’s housing market, home values, crime rates, and other neighborhood resources. Whether you’re a property investor, realtor, manager, or simply interested in learning more about Memphis’ real estate landscape, read on to discover valuable information and resources.
OVERVIEW
Memphis is a city in Tennessee and consists of 166 neighborhoods. There are 2,644 homes for sale, ranging from $3K to $5.5M. Memphis has affordable 1 bedroom listings.
- Median listing home price: $192K
- Median listing home price/Sq ft: $116
- Median sold home price: $160K
REAL ESTATE MARKET IN MEMPHIS
Memphis, TN Housing Market
In December 2023, Memphis witnessed a 6.2% increase in home prices year-over-year, reaching a median price of $170K. The average time on the market rose to 51 days from 46, and home sales totaled 468, a decrease from 487 in the previous year. Read more.
Memphis Housing Market Trends and Forecast for 2024
Memphis Real Estate, with an average home value of $142,688, shows a 6.4% decrease. Properties move swiftly in 37 days on average, offering buyers diverse options. Essential metrics highlight a buyer-friendly market with a forecasted growth of 4% by December 2024. Don’t miss out on the trends of the Memphis housing market.
Memphis Home Values
Check out Zillow’s report about Memphis home values.
INTERESTING STORIES
Lessons from Memphis’s collaborative campaign against blight
Memphis is taking an innovative step to try to address blight, and its work may help inform other cities’ efforts. Read more.
NEIGHBORHOOD RESOURCES
Memphis Crime Map
With a crime rate of 98 per thousand residents, Memphis is one of America’s most dangerous cities. The high risk, with a one in 10 chance of falling victim to violent or property crime, underscores the city’s alarming safety concerns. Read more.
Top Real Estate Agents
Looking for a real estate agent? Here are the 10 Top Real Estate Agents in Memphis by sales transactions.
MEMPHIS HELPFUL REAL ESTATE ECONOMIC DEVELOPMENT RESOURCES
Community Development Support and Engagement
- South Memphis Renewal Community Development Corporation.
- BLDG Memphis.
- Blight elimination Steering Team (BEST).
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Community Outreach
DAWGS philanthropy efforts have touched many lives:
- Helping Veterans realize a brighter, better future
- Giving a homeless family hope and a newly furnished home
- Providing opportunities for inner city teenage girls to live happier and healthier lifestyles
- Rescuing dogs that have been abandoned
- Providing employment opportunities for individuals with developmental disabilities
Learn more here.
