Rick Andrews' Market Report

Murphy, NC 28906

Single-Family Homes

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



Murphy, NC 28906

Mon Jun 24 2024
This week the median list price for Murphy, NC 28906 is $399,800 with the market action index hovering around 31. This is less than last month's market action index of 32. Inventory has increased to 191. 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 Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Murphy, NC 28906

Mon Jun 24 2024
This week the median list price for Murphy, NC 28906 is $399,800 with the market action index hovering around 31. This is less than last month's market action index of 32. Inventory has increased to 191. 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 Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Murphy market.
Median List Price $399,800
Median Price of New Listings $349,800
Per Square Foot $250
Average Days on Market 100
Median Days on Market 63
Price Decreased 43%
Price Increased 2%
Relisted 15%
Inventory 191
Median Rent
Market Action 31
Slight Seller's Advantage

We continue to see prices in this zip code bouncing around this plateau. 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
$649,900 2,637 2.5 - 5 acres 3 3 18 6 1 70
$457,500 2,160 1 - 2.5 acres 2 3 20 2 7 73
$349,000 1,232 1 - 2.5 acres 2 2 18 6 10 49
$274,950 1,004 1 - 2.5 acres 2 2 28 5 11 63