$371 Closing Credit*
$31,200
2 Beds
•2 Full Baths
Listing Office: The Carter Group LLC, REALTORS
Is South Memphis, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, South Memphis was a Seller's Market.
Key Takeaway
South Memphis is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Memphis, TN
How much do homes in South Memphis, TN cost?
Median Sold Price
$57,500
-
Based on all homes sold in November 2024.
Difference Since Last Month
-$42,250(-42.4%)
Key Takeaway
Homes in South Memphis have sold for 42.4% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $12K | N/A |
| 3 Bedrooms | $36K | $58.7K | +63.2% |
| 4 Bedrooms | $102.5K | - | N/A |
| 5+ Bedrooms | $120K | - | N/A |
Summary: South Memphis housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 63.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Destiny Unlimited | $195K | $195K | 0.0% |
| South Memphis | $99.7K | $57.5K | -42.4% |
Housing Supply in South Memphis, TN
How many homes are available in South Memphis, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 38 | 36 | -5.3% |
Summary: The South Memphis real estate market had 36 homes for sale in November 2024, a 5.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 22 | 23 | +4.5% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The South Memphis housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Memphis, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in South Memphis in November 2024, down by 62.5% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for South Memphis, TN
We’re sorry, we don't have information for this market at the moment
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.