Rick Andrews' Market Report

Murphy, NC 28906

Single-Family Homes

Your Mountain Realtor | 828-557-9139 | rick@callrickandrews.com


Murphy, NC 28906

Fri May 09 2025
This week the median list price for Murphy, NC 28906 is $362,450 with the market action index hovering around 29. This is less than last month's market action index of 30. Inventory has increased to 256. Click here to stay informed with the Murphy market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

Market Narrative

While prices have been at a plateau for a number of weeks, this is a Buyer’s market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the MAI. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.

Murphy, NC 28906

Fri May 09 2025
This week the median list price for Murphy, NC 28906 is $362,450 with the market action index hovering around 29. This is less than last month's market action index of 30. Inventory has increased to 256. Click here to stay informed with the Murphy market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

Market Narrative

While prices have been at a plateau for a number of weeks, this is a Buyer’s market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the MAI. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.

Real-Time Market Profile

Never miss important changes in the Murphy market.
Median List Price $362,450
Median Price of New Listings $314,900
Per Square Foot $244
Average Days on Market 121
Median Days on Market 70
Price Decreased 35%
Price Increased 1%
Relisted 15%
Inventory 256
Median Rent
Market Action 29
Slight Buyer's Advantage

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$621,950 2,511 1 - 2.5 acres 3 3 21 3 2 49
$399,850 2,020 1 - 2.5 acres 2 2 20 6 3 63
$319,850 1,218 1 - 2.5 acres 2 2 18 6 2 80
$232,450 1,018 1 - 2.5 acres 2 1 28 9 4 91