Rick Andrews' Market Report
Murphy, NC 28906
Single-Family Homes
Your Mountain Realtor | 828-557-9139 | rick@callrickandrews.com
Murphy, NC 28906
Sat Dec 21 2024
This week the median list price for Murphy, NC 28906 is $364,500 with the market action index hovering around 30. This is about the same as last month's market action index of 30. Inventory has decreased to 228.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.
Real-Time Market Profile
| Median List Price | $364,500 | |
| Median Price of New Listings | $349,800 | |
| Per Square Foot | $247 | |
| Average Days on Market | 124 | |
| Median Days on Market | 88 | |
| Price Decreased | 40% | |
| Price Increased | 1% | |
| Relisted | 15% | |
| Inventory | 228 | |
| Median Rent | ||
| Market Action | 30 | |
| Slight Seller'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 |
|---|---|---|---|---|---|---|---|---|
| $595,000 | 2,645 | 1 - 2.5 acres | 3 | 3 | 20 | 4 | 3 | 119 |
| $425,000 | 1,920 | 1 - 2.5 acres | 2 | 2 | 18 | 4 | 3 | 98 |
| $329,900 | 1,200 | 1 - 2.5 acres | 2 | 2 | 17 | 4 | 8 | 84 |
| $225,000 | 1,013 | 0.5 - 1 acre | 2 | 1.5 | 27 | 5 | 4 | 70 |