Inside DFW Real Estate

Murphy, Texas real estate market update

Each month, The Dunnican Team publishes housing market updates covering the cities we serve across Northeast Dallas, Collin, Hunt and Rockwall Counties.

Our reports are sourced directly from the MLS transaction data, not estimates or industry averages, and always compared year-over-year so you can tell what's actually changing.

Our goal is to give you the same honest picture we use with our clients, explained the way we'd explain it across the table.

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monthly market update

Murphy has the tightest inventory in this report at 2.7 months, down from 4.2 a year ago, with closings up 40.0% against a 9.5% decline in active listings.

That is absorption-driven tightening, which typically supports prices — the median rose 11.3% to $640,000. Worth noting alongside it: homes still closed at 93.2% of original list, so negotiation remained routine even in a tight market, usually a sign of ambitious initial pricing.

Murphy, TX Housing Market Update – September 2026

Murphy, TX Housing Market Update | Reporting Period: Aug 1–Aug 31, 2026 (August 2026 data) • Data via NTREIS

Smaller market — read percentages with care. 21 homes closed here in August 2026. That is enough for meaningful analysis, but month-to-month percentage changes can still reflect the mix of homes sold rather than broad movement in values.

Key Highlights | Murphy, TX Housing Market Update

Median Price: $640,000 (+11.3% YoY)
Closed Sales: 21 (+40.0% YoY)
Active Listings: 57 (-9.5% YoY)
Months of Inventory: 2.7 (-35.4% YoY)

What Sellers Need to Know

At 2.7 months of supply, Murphy is the tightest market covered in this report.
Closings rose 40.0% while active listings fell 9.5%, a clear improvement in absorption.
Only 16 new listings came to market in August, so competing supply is limited.
Homes closed at 93.2% of original list price, so buyers are still negotiating despite tight conditions.

What Buyers Need to Know

With 2.7 months of supply and 57 active listings, selection is limited and decisions need to be prompt.
Murphy is substantially tighter than the DFW Metroplex at 4.4 months and Texas at 5.4 months.
Homes sold at 93.2% of original list price, indicating more negotiating room than the tight supply suggests.
The median rose 11.3% year over year, though the small transaction count means individual sales carry weight.

PRICES
Murphy's median sales price was $640,000 in August 2026, up 11.3% from $575,000 in August 2025. Homes sold at a median of 93.2% of original list price, compared with 94.9% a year ago. The most active price band was $500,000 to $549,999. Murphy is a smaller market, so percentage changes can reflect the mix of homes sold rather than broad movement in values. For context, the DFW Metroplex median was $389,000 and the Texas median was $330,000.

SALES ACTIVITY
A total of 21 homes closed in August 2026, compared with 15 in August 2025, a increase of 40.0%. Sellers brought 16 new listings to market, and 9 properties went under contract. Median days on market rose to 42 from 38 a year ago.

INVENTORY
Active listings totaled 57 at the end of August 2026, down 9.5% from 63 in August 2025. With 16 new listings against 21 closings, supply was absorbed faster than it was replaced.

MARKET BALANCE
Months of inventory stood at 2.7, compared with 4.2 in August 2025. That compares with 4.4 months for the DFW Metroplex and 5.4 months statewide. Inventory tightened while sales rose, which reflects genuine absorption rather than a pullback in listings.

Murphy Housing Market Outlook: Fall 2026

Murphy has the lowest inventory in this report at 2.7 months, down from 4.2 a year ago, with closings up 40.0% against a 9.5% decline in active listings. That is absorption-driven tightening rather than a listing pullback, which typically supports prices. With only 16 new listings against 21 closings, supply is contracting and is unlikely to rebuild materially before spring. The 93.2% sale-to-original-list ratio is worth noting, since it indicates negotiation remains routine even in a tight market, generally a sign that initial pricing has been ambitious. Murphy's median of $640,000 sits well above the DFW figure, so the buyer pool is smaller and more rate-sensitive. Easing financing costs would likely tighten this market further before affecting supply.

Trending in Real Estate News

Realtor.com Research — The Best Time to Buy a Home Is the Week of Sept. 27 – Oct. 3 — Realtor.com's annual timing analysis names the week of September 27 through October 3 the most buyer-friendly week of 2026 nationally, with more active listings than earlier in the year and roughly $14,000 in savings on a median-priced home compared with the summer peak. The weeks immediately after are nearly as favorable.
MetroTex Association of REALTORS® — Monthly DFW Housing Market Reports — The regional association's own monthly data for the Dallas-Fort Worth Metroplex and Texas.
Zillow Research — Monthly Market Report — National sales and new-listing trends, useful for separating local movement from national conditions.
Redfin — 2026 Housing Market Mood: Buyers Cautious, Sellers Showing Up — Survey-based look at how buyers and sellers are approaching the market this year.

Numbers describe a market. They do not describe your home, your street, or your timeline. If you are weighing a move in Murphy, Cindy and Cory Dunnican are glad to walk through what this data means for your specific situation — no pressure, no obligation. Get in touch with The Dunnican Team or call 972-679-1789.

Frequently Asked Questions

Is now a good time to sell a home in Murphy?

The Murphy market currently favors sellers. Months of inventory stood at 2.7 in August 2026, against 4.4 months for the DFW Metroplex and 5.4 months statewide. Active listings fell 9.5% year over year, and homes sold at a median of 93.2% of their original list price. Whether it is the right time depends on your price point and timeline, which is worth discussing against recent closings in your specific neighborhood.

Is now a good time to buy a home in Murphy?

Murphy had 57 active listings at the end of August 2026 and 21 homes closed during the month, which works out to 2.7 months of supply. The median sale price was $640,000, up 11.3% from a year earlier. Homes closed at 93.2% of original list price, so there was negotiating room on properties that had been listed a while.

How long are homes taking to sell in Murphy?

Median days on market in Murphy was 42 days in August 2026, compared with 38 days in August 2025. That figure measures time from listing to an accepted contract. Contract to closing added a further 30 days in Murphy during August, so a typical sale ran about 72 days from listing to closing.

Are home prices rising or falling in Murphy?

The median sale price in Murphy was $640,000 in August 2026, compared with $575,000 in August 2025, a change of +11.3%. A median reflects the midpoint of what sold, so it moves when the mix of homes selling changes as well as when values change.

How competitive is the Murphy housing market?

With 2.7 months of inventory, the Murphy market favors sellers. Homes closed at a median of 93.2% of original list price and 9 properties went under contract during August 2026. Under 4 months of supply generally favors sellers, 4 to 5 months is balanced, and above 5 months favors buyers.

What is the median home price in Murphy, TX?

The median sale price in Murphy was $640,000 in August 2026. For comparison, the DFW Metroplex median was $389,000 and the Texas statewide median was $330,000.

How much housing inventory is available in Murphy?

Murphy had 57 active listings at the end of August 2026, down 9.5% from 63 a year earlier. Against 21 closed sales, that represents 2.7 months of supply.

How does the Murphy housing market compare to DFW and Texas overall?

Murphy's median sale price of $640,000 compares with $389,000 across the DFW Metroplex and $330,000 statewide. Inventory stood at 2.7 months locally, versus 4.4 months for the Metroplex and 5.4 months for Texas.

Source: NTREIS MLS (Aug 1–Aug 31, 2026) with August 2025 comparison metrics from NTREIS MLS. Regional and statewide benchmarks from MetroTex Association of REALTORS® August 2026 Housing Reports.

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