Why Live in Raleigh
Raleigh, a growing suburb in northeast Memphis, is experiencing revitalization with major employers like Amazon and Nike strengthening the community. The neighborhood features a mix of ranch-style, split-level, and colonial revival homes, many 40 to 50 years old with fenced-in backyards and carports. Newer traditional homes with open floorplans are also available. Raleigh's residential streets are shaded by oak trees, and the area includes small lakes such as Otter and Beaver Lake, offering waterfront views. Located about 13 miles from Downtown Memphis, Raleigh is near Interstate 40, providing access to Memphis, Nashville, and Knoxville. Public transportation is available via Route 11 of the Memphis Area Transit Authority Bus, and Memphis International Airport is about 20 miles away.
The commercial hub along Austin Peay Highway includes regional fast-food chains, local favorites like Donut Man and Southern Hands, and big-box stores such as Aldi. Green spaces are plentiful, with Harry C Pierotti Park offering tennis and basketball courts, a playground, and the Raleigh Community Center, which features an outdoor pool and various programs. The Raleigh Springs Civic Center includes a pond, a skate park, and the Raleigh Library. Outdoor activities extend to the Wolf River Greenway and Epping Lake, popular for biking and fishing. Raleigh is served by the Shelby County School District, with several public and charter school options available. The neighborhood also hosts annual events like the Block Party for Peace, fostering a strong sense of community.
Home Trends in Raleigh, TN
On average, homes in Raleigh, Memphis sell after 48 days on the market compared to the national average of 51 days. The median sale price for homes in Raleigh, Memphis over the last 12 months is $164,900, up 11% from the median home sale price over the previous 12 months.
Median Sale Price
$164,900
Median Single Family Sale Price
$169,950
Median Townhouse Sale Price
$196,200
Median 2 Bedroom Sale Price
$95,000
Average Price Per Sq Ft
$107
Number of Homes for Sale
64
Last 12 months Home Sales
217
Median List Price
$175,000
Median Change From 1st List Price
4%
Median Home Sale Price YoY Change
11%