Building Costs Per Square Foot in the City of Memphis (TN), USA

Residential Construction Market Analysis in the City of Memphis (TN), USA

Newly Built House in Memphis 752 Carnes Station Cv TN38111 – 3 Bedrooms and 3   Baths with 2 Attached Garages – Built in 2022 – Price $439,000

Newly Built House in Memphis 752 Carnes Station Cv TN38111 – 3 Bedrooms and 3
Baths with 2 Attached Garages – Built in 2022 – Price $439,000

Building costs are 1% above the national average in the City of Memphis in Tennessee. For people who want to live a family life, in a place that has southern charm and the spirit of a small town but with all the advantages of a city, Memphis is your place in the world.

While in the past Memphis was only known for its rise in crime events, its image began to improve and crime rates have dropped significantly in recent times. Despite being considered an unsafe city, there are some very good parts, with great school districts, that are perfect for raising a family.

From cheap prices for large houses to picturesque buildings, Memphis has it all, which is why we will dedicate this article to telling you everything you need to know about its real estate market. Get ready to know all the details about the construction outlook of this city, in addition to the average values that you can find in the market, and future projections.

Memphis (TN) Construction Outlook

Although Memphis is not the capital of the most populous city of Tennessee (that title goes to Nashville), it is one of the largest cities and probably one of the best-known as well. It has more than 600,000 inhabitants and is one of the most populated cities in the Southeast, which makes it a receptive pole for new inhabitants from the entire southern region and the country in general.

Memphis is not a city full of skyscrapers, on the contrary, it is quite a small city. In its center you can find tall buildings, some exceeding 20 floors but they are not the majority. The most common are residential neighborhoods, the typical suburbs that you would see in any American movie or series.

The houses are usually made with wooden plates, concrete, or typical brick and cement houses. Memphis is not a place with very strong storms, so that’s why the construction is usually quite simple. The houses usually have a garden or at least enough grass, even in those neighborhoods of middle or lower class.

Memphis (TN) Housing Market Analysis and Forecast

The values ​​of the real estate market in Memphis are increasing in recent times. Compared to October last year, this year there was an increase of 14%. Still, even with that increase, the average is lower than the national average.

Houses take approximately 40 days to sell. It is rare for a property to spend more time than that listed in Memphis, but different factors come into play at this point. If the house is in an unsafe neighborhood, or if it is run down, it will most likely take longer to sell.

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