Here’s what you need to know about Memphis’ real estate market.
Housing values have appreciated by double digits in the last two years—will this insane growth continue?
The average home price in Memphis is around $240,000, which is an all-time high. This was mainly due to low inventory and great interest rates, but now that mortgage rates are higher, growth will probably slow down. That being said, home values will remain high as long as inventory stays low.
Also, home prices remain reasonable in Memphis, unlike other large southern cities like Nashville and Atlanta. That means you can still purchase a home here and lock in a low monthly payment.
This remains a great time to buy or sell a home. If you have questions, please call or email me. I’d love to help!