Local Realtors say demand is high in downtown Memphis, Tennessee where the diversity of housing and lifestyles near the Mississippi River is attractive.

"Downtown single family homes are, by far, the hottest properties in the area," says Realtor Joe Spake. "Inventory stays compressed due to extremely high demand, and fierce competition for each home that is listed. There are a number of nice condos available and condo and new home construction is underway.

He advises, "If you are thinking about downtown, you need an agent who has his finger on the pulse of the market. The good homes go very quickly."

Agree Realtors Steve and Ellen Dugger, "Downtown Memphis has a progressive personality of its own. Many in the legal and medical profession have recently flocked to the new downtown area. You will find condominiums, zero lots, gated communities, small, and very large homes near the river and on the river. Activities are abundant with the brand new FedEx Forum, The Pyramid, Mud Island, the Redbirds Baseball Stadium, Beale Street, Peabody Place, etc. Downtown living is definitely hopping! Whether you want to live on Mud Island, Harbor Town, on the river, or anywhere else downtown, you will have plenty of activities to choose from with east interstate access, and lots of shopping available."