Is Murphy, NC 28906 a buyer’s or seller’s market?
Murphy is a buyer’s market. With about 7.3 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 9% of U.S. ZIP codes, and #358 of 424 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Murphy housing market right now
In the three months ending August 31, 2026, 14% of homes in Murphy, NC 28906 sold above their list price, the typical home went under contract in 100 days and there were 7.3 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 142 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (13% then), homes sold more slowly (50 days then) and the median sale price rose 20% to $336,354. Overall, Murphy is less competitive than a year ago, which gives buyers more room.
On our competition score, Murphy ranks #358 of 424 NC ZIP codes with enough sales (score 16 out of 100).
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Nearby markets
Andrews 28901Buyer’s market $183 /sq ftMarble 28905Seller’s market $171 /sq ft Browse all markets →Towns like Murphy nearby
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Questions about Murphy real estate
Is Murphy a buyer’s or seller’s market?
A buyer’s market: there were 7.3 months of supply in Murphy, NC 28906 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Murphy?
The typical home went under contract in 100 days in the latest three months.
Do homes in Murphy sell over asking?
14% of homes sold above their original list price, and the typical sale closed at 96.3% of the list price.
What are property taxes in Murphy?
About 0.46% of a home’s value a year in Cherokee County, or roughly $1,840 on a $400,000 home.
What is the median home price in Murphy?
The median sale price was $336,354 in the three months ending August 31, 2026, about $223 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology