Midtown Memphis-Memphis City Real Estate

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Midtown Memphis-Memphis City Real Estate & Homes for Sale in Tennessee

As the largest city in Tennessee, Memphis is located in the state’s southwestern corner on the mouth of the Wolf River. Known for its music roots as the birthplace of the blues and home to Elvis Presley, Memphis is much more than a tune. The Midtown section of Memphis includes some of the original neighborhoods in the city. Midtown’s distinguished enclave presents wide streets and huge trees lining the avenues. Several art schools are located in Midtown, as well as the oldest and largest Memphis Zoo in the middle of Overton Park, one of the largest urban parks in America. With a family-friendly vibe and a warm and welcoming environment, Midtown receives thousands of newcomers to live in the area each year. Memphis boasts a strong local economy with plenty of employment opportunities and a low cost of living. Home to Fortune 500 headquarters, standing as the third largest casino hub in the nation and a leader in the health care industry, the local market is considered one of the “Fifty Hottest Cities,” in regards to economic expansion. Brimming with nearby hotspots such as Graceland, Beale Street, museums and casinos, getting around the city is easy. Taxis, tour buses and public transportation are prevalent all over Midtown. Downtown Memphis is chic and cosmopolitan offering art galleries, retail shops, superlative dining and museums with a mix of architectural styles and urban lifestyles. Midtown Memphis offers its residents a great combination of a vibrant neighborhood steeped in southern hospitality with numerous cultural attractions, historic sites and economic strength.

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Price Range of Midtown Memphis-Memphis City Houses

With countless options throughout the city, Midtown Memphis offers tree-lined avenues and urban condos in the heart of it all. Home ownership is at a high, boasting a steady appreciation in values and proving to be a solid investment for newcomers. Single-family homes start at $20,000 in outlying areas and can go up to $900,000 for vast acreage, exclusive amenities and sprawling estates. The average cost of a home in Midtown is somewhere in the middle at about $200,000. Town homes and condominiums start from $40,000, up to $400,000. Land property ranges from under $10,000 to $1.2 million, depending significantly on acreage, views, topography and utilities present.

Midtown Memphis-Memphis City Real Estate Stats and Trends for the week of April 18th, 2020: homes priced around $144,035 compared to $102,933 the previous week, showing a increase of more than +29%.  For Saturday, April 18th, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.

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