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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Murphy Township is a buyer's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Murphy Township, NC

How much do homes in Murphy Township, NC cost?

Median Sold Price

$325,000

$229/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$25,100(+8.4%)

Key Takeaway

Homes in Murphy Township have sold for 8.4% more than they did a year ago.

Summary: The median home sold price in Murphy Township was $325,000 in March 2024, up 8.4% from last year, and the median price per square foot was $229.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $285K$165K
-42.1%
2 $295K$319.4K
+8.3%
3 $351.2K$402.4K
+14.6%
4 $505K$407.5K
-19.3%
5+ $189.9K$340K
+79.0%

Summary: Murphy Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 42.1%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 14.6%, 4 bedroom homes decreased by 19.3%, and 5+ bedroom homes increased by 79%.

Median Sold Price Compared To Nearby Cities

Murphy Township
+8.4%
Murphy
+4.3%

Housing Supply in Murphy Township, NC

How many homes are available in Murphy Township, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
136182+33.8%

Summary: The Murphy Township real estate market had 182 homes for sale in March 2024, a 33.8% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1317
+30.8%
2 7089
+27.1%
3 4562
+37.8%
4 613
+116.7%
5+ 21
-50.0%

Summary: The Murphy Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 30.8%, 2 bedroom homes increased by 27.1%, 3 bedroom homes increased by 37.8%, 4 bedroom homes increased by 116.7%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
550.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Murphy Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Murphy Township in March 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.

Days on Market for Murphy Township, NC

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

Average Sale Time

Mar 2023Mar 2024CHANGE
71 Days72 Days+1.4%

Summary: Homes in Murphy Township had an average of 72 days on market in Mar 2024, up by 1.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 5 homes were sold in Murphy Township; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% 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 24 Days Ago

Newest Listings in Murphy Township, NC

Nearby Markets to Murphy Township, NC

What housing markets are near Murphy Township, NC?