Market Conditions in Memphis>Question Details

Lannie, Home Buyer in Memphis, TN

Average price per square foot in Midtown Memphis around Rhodes?

Asked by Lannie, Memphis, TN Thu Mar 7, 2013

Does anyone know what the average price per square foot of sold properties is for the area around Rhodes? I'm thinking about looking around this area and I've noticed quite a few differences in price ranges.

Help the community by answering this question:

Answers

3
Lannie, there are a lot of factors involved- condition, improvements/upgrades, number of bedrooms and baths, location, etc. I think a good rule of thumb for a decent, livable house in good to very good condition would be around $100/square foot. Adjust up or down depending on features mentioned above.
I specialize in the Midtown market and would be happy to answer specific questions or help you evaluate properties you might be considering.
1 vote Thank Flag Link Thu Mar 7, 2013
Thanks for your response! It's a 3/2 around 2100 square feet but needs a lot of cosmetic work, floors refinished, kitchen redone, bathrooms updated, etc. It seems like the price is at top of asking for the area (in between Jackson & Vollintine) considering the upgrades it needs so I was just looking for an average since the 2013 property assessments aren't up yet. That way I could see something about the price.
Flag Thu Mar 7, 2013
Buying any type of property, is a process of negotiation. The price, and price per square foot is the sum of those negotiations. It's that simple.
If you're serious, the determining factor in your purchase decision is what you can afford. Asking prices and selling prices are only markers in the road of negotiation toward a successful sale and purchase.
What can you afford? What type of home do you need or want? Are you paying cash, or financing it?
A distance of 3,4,5 or more blocks from a specific area, can make a substantial difference in asking price, type, size and desirability for a home in this area.
If you're serious, feel free to contact me and we can discuss in more detail what it is that you desire and may be looking for.
0 votes Thank Flag Link Thu Mar 7, 2013
This is the worst question in real estate, price per sq ft works in warehouse space not homes! ask a better question, such as I have noticed that properties in the Rhodes area are selling in a rather wide range what would explain this? Is there an agent out there that would take the time to explain why this occurs in this market? Good Luck sorry I don't work in your area
0 votes Thank Flag Link Thu Mar 7, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer