Based on reported Sales Data*, the Downtown Memphis, there were 163 non-condo residential sales in 2010, a drop of 27 units from the 2009 total. Average Sale Price was $177,414 with Median Price at $200,000. The highest sale price was $590,000, off over $1M, from 2009’s $1,600,000 high sale.
click image to enlarge
Average Sold $/Square Foot (Sales price÷Square footage) dropped from $107.77 in 2009 to $91.20 in 2010, an indicator of weakened demand. With the vast majority of non-condo listings on Mud Island, I expect more values in the area in 2011. Conditions for qualified buyers are excellent. If you want to live Downtown and enjoy the amenities of the river and the Harbortown commercial district, it’s a good time to be looking for a Downtown home. There are also homes available in Uptown, and in the South Main district.
*Information based on reported Multiple Listing Services Sales through the Memphis Area Association of REALTORS®, and do not necessarily represent all property transfers.
- Thank You, Essential Workers - September 7, 2020
- Mid-Century Modern for sale – 346 Waring, Memphis, TN - July 9, 2013
- RE Buzz – Real Estate News Roundup – July 9, 2013 - July 9, 2013
What do you think? Leave your comments.