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 October 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

$348,000

$239/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$28,000(+8.8%)

Key Takeaway

Homes in Murphy Township have sold for 8.8% more than they did a year ago.

Summary: The median home sold price in Murphy Township was $348,000 in October 2024, up 8.8% from last year, and the median price per square foot was $239.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $165K$195K
+18.2%
2 $311K$330.7K
+6.3%
3 $385K$419.9K
+9.1%
4 $429K$415K
-3.3%
5+ $377.5K$303.9K
-19.5%

Summary: Murphy Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 19.5%.

Median Sold Price Compared To Nearby Cities

Brasstown
+17.9%
Brasstown Township
+17.9%
Murphy Township
+8.8%
Murphy
+8.6%

Housing Supply in Murphy Township, NC

How many homes are available in Murphy Township, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
181229+26.5%

Summary: The Murphy Township real estate market had 229 homes for sale in October 2024, a 26.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1819
+5.6%
2 86120
+39.5%
3 6779
+17.9%
4 88
0.0%
5+ 23
+50.0%

Summary: The Murphy Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 39.5%, 3 bedroom homes increased by 17.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
63-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was 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. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Murphy Township in October 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% 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

Oct 2023Oct 2024CHANGE
36 Days38 Days+3.5%

Summary: Homes in Murphy Township had an average of 38 days on market in Oct 2024, up by 3.5% compared to last year.

Breakdown of Home Sale Times

2 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 October 2024, 3 homes were sold in Murphy Township; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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 16 Days Ago

Newest Listings in Murphy Township, NC

Nearby Markets to Murphy Township, NC

What housing markets are near Murphy Township, NC?