Murphy Home Values

Homes in Murphy moved off the market markedly faster this quarter, with the typical listing reaching contract in roughly three weeks — down from about a month across the trailing year, based on MLS data for 2026-07 closings in Murphy. Price per square foot held essentially flat near $198, suggesting the velocity shift reflects timing more than repricing. Sellers received close to 99 cents on the dollar at closing, concessions appeared in a little over four in ten sales versus roughly half over the trailing year, and the share closing below asking eased to about a quarter. With 55 closings, the sample is moderate, but the pattern points toward sellers regaining some footing as deals move quicker.

Murphy's pipeline tells a more mixed story than the pace of recent closings. Months of supply eased from earlier-year readings but remains comfortably above the threshold where sellers hold outright control. Active inventory held essentially flat, while new listings arrived at a quicker clip than the trailing-year average even as pending contracts pulled back sharply from where they stood earlier this year. The gap between fresh listings and contracts signed suggests the recent contraction in time-to-close may face a test if absorption doesn't keep pace with the incoming supply.

More than a third of Murphy homes closed below asking in the latest quarter, based on MLS data for 2026-06 closings in Murphy — a signal that buyer negotiating room persisted even as the broader market held relatively firm. No homes sold above list, and the directional data suggests pricing discipline is the dominant strategy here. Sellers gave back roughly two cents on the dollar at closing, an improvement over the county's four-cent haircut, while concession rates came in at under half of transactions. Median prices held near $600K, and the year-over-year drift remained slightly negative — consistent with a market finding equilibrium rather than retreating.

Murphy's supply picture has loosened somewhat from prior-month readings, with months of supply running well below the county's reading but still in the range where neither side holds commanding leverage. New listing activity outpaced pending contracts by a wide margin over the quarter, suggesting the active pool may widen heading into summer. Active inventory has held steady while the absorption pace — measured by pending-to-active ratios — points toward a market where buyers retain meaningful room to negotiate, though the directional signal is moderate rather than decisive given the transaction volume.

Price per square foot in Murphy crossed $202 in the most recent quarter — landing at par with the broader Collin County benchmark despite a median sale price more than $150,000 above the county average, based on MLS data for 2026-05 closings in Murphy. Sellers here gave back roughly two cents on the dollar at closing, compared to nearly four cents countywide, and the concession rate held below half of all transactions while nearly two-thirds of Collin County sales included seller concessions. Only a small fraction of homes sold above list, while just under half closed below — a pattern consistent with a market that prices carefully but holds its ground. The year-over-year price trend showed a modest negative drift, suggesting the market has found a measured level rather than a sustained decline.

Murphy's supply picture tightened noticeably relative to Collin County, with months of supply running roughly a third lower than the county-wide reading. Active inventory held steady while pending contracts represented a proportionally higher share of the active pool than seen across the broader county. New listing activity in Murphy tracked well below the county's pace on a per-household basis, which limits the buildup of unsold supply heading into summer. The directional data suggests conditions in Murphy remain more balanced — closer to the seller-leaning side of neutral — than the wider Collin County market, where a higher supply overhang continues to give buyers more room to negotiate.