$2,791 Closing Credit*
$235,000
4 Beds
•2 Full Baths
Listing Office: REMAX Experts
Is Southeast 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, Southeast Memphis was a Seller's Market.
Key Takeaway
Southeast Memphis is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Southeast Memphis, TN
How much do homes in Southeast Memphis, TN cost?
Median Sold Price
$161,500
-
Based on all homes sold in November 2024.
Difference Since Last Month
-$18,400(-10.2%)
Key Takeaway
Homes in Southeast Memphis have sold for 10.2% 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 | - | $28K | N/A |
| 3 Bedrooms | $153K | $183K | +19.6% |
| 4 Bedrooms | $208.4K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Southeast 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 19.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Parkway Village | $109.5K | $112.5K | +2.7% |
| Balmoral | $271K | $260K | -4.1% |
| Southeast Memphis | $179.9K | $161.5K | -10.2% |
Housing Supply in Southeast Memphis, TN
How many homes are available in Southeast Memphis, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 46 | 41 | -10.9% |
Summary: The Southeast Memphis real estate market had 41 homes for sale in November 2024, a 10.9% 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 | 3 | 5 | +66.7% |
| 3 Bedrooms | 34 | 29 | -14.7% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Southeast 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 66.7%, 3 bedroom homes decreased by 14.7%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 6 | -45.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southeast Memphis, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Southeast Memphis in November 2024, down by 45.5% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Southeast Memphis, TN
We’re sorry, we don't have information for this market at the moment
