Rick Andrews' Market Report
Murphy, NC 28906
Single-Family Homes
Your Mountain Realtor | 828-557-9139 | rick@callrickandrews.com
Murphy, NC 28906
Thu Apr 25 2024
This week the median list price for Murphy, NC 28906 is $392,000 with the market action index hovering around 33. This is about the same as last month's market action index of 33. Inventory has increased to 148.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Real-Time Market Profile
| Median List Price | $392,000 | |
| Median Price of New Listings | $342,000 | |
| Per Square Foot | $256 | |
| Average Days on Market | 108 | |
| Median Days on Market | 49 | |
| Price Decreased | 30% | |
| Price Increased | 2% | |
| Relisted | 18% | |
| Inventory | 148 | |
| Median Rent | ||
| Market Action | 33 | |
| Slight Seller's Advantage | ||
The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.
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 | 2,502 | 1 - 2.5 acres | 3 | 3 | 19 | 1 | 2 | 49 |
| $439,000 | 1,966 | 1 - 2.5 acres | 2 | 3 | 20 | 3 | 0 | 63 |
| $344,900 | 1,232 | 0.5 - 1 acre | 2 | 2 | 18 | 9 | 6 | 28 |
| $243,000 | 1,074 | 0.5 - 1 acre | 2 | 2 | 28 | 5 | 5 | 56 |