Property prices for sale in Memphis (Tennessee)
The prices in real estate in Memphis, in the Tennessee region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Memphis has increased during the last 6 months. In March, the average price per sq.feet was $160. In April this price pretty much remained the same at a value of $167 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $163.5 to $161 per sq.feet. The price per sq.feet has had a considerable increase of 120 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $162.25 to $194.5 during July, and August.
Based upon to the price in Memphis (cities), these have remained the same in the last 6 months. The price in March is $246,437, rising in April till $267,579. In the following two months the average price has remained the same with regard to the previous two months from $257,008 to $255,486.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $256,247.25 and $246,390.5 between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $257,466 they are 44 % more affordable than the average price for Memphis. The properties with the highest average price have 4 bedrooms, Their price is 30 % more costly than the average. After that we have properties with 3 bedrooms priced at $224,399.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $151 / sq.feet, with an average $228 / sq.feet price in Memphis. The properties with the highest average prices have 1 bedroom. They are 1215 % more expensive than the average followed by properties with 2 bedrooms with a price at $424 / sq.feet.
The graph displaying the average prices displays the property type "Bungalow" as the most affordable one. At an cost of $257,466 it is 50 % cheaper than the average price in Memphis. "Detached House" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $194,952 it is 3 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $205 / sq.feet followed by "Condo" priced at $404 / sq.feet. "Townhouse" is the most costly type of property with a $864 / sq.feet cost followed by "Detached House" with an average price of $859 / sq.feet.
