Is Murphy, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Murphy is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Murphy was a Seller's Market.

Key Takeaway

Murphy is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Murphy, NC

How much do homes in Murphy, NC cost?

Median Sold Price

$330,500

$254/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$5,500(+1.7%)

Key Takeaway

Homes in Murphy have sold for 1.7% more than they did a year ago.

Summary: The median home sold price in Murphy was $330,500 in November 2024, up 1.7% from last year, and the median price per square foot was $254.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $177.5K$195K
+9.9%
2 $317.5K$316K
-0.5%
3 $382.5K$419.9K
+9.8%
4 $421.5K$432.5K
+2.6%
5+ $377.5K$434.4K
+15.1%

Summary: Murphy housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.9%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 15.1%.

Median Sold Price Compared To Nearby Cities

Murphy
+1.7%
Murphy Township
+1.7%

Housing Supply in Murphy, NC

How many homes are available in Murphy, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
190219+15.3%

Summary: The Murphy real estate market had 219 homes for sale in November 2024, a 15.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1718
+5.9%
2 96111
+15.6%
3 6880
+17.6%
4 78
+14.3%
5+ 22
0.0%

Summary: The Murphy housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
330.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Murphy, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Murphy in November 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Murphy, NC

How long does it take to sell a home in Murphy, NC?

Average Sale Time

Nov 2023Nov 2024CHANGE
202 Days59 Days-70.7%

Summary: Homes in Murphy had an average of 59 days on market in Nov 2024, down by 70.7% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Murphy are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 3 homes were sold in Murphy; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Murphy, NC

Nearby Markets to Murphy, NC

What housing markets are near Murphy, NC?