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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Murphy closed 15 homes in September 2026, all resale, while active listings fell 8.2% to 56. Months of inventory tightened to 4.0, right at the line between balanced and seller-leaning, and homes closed at a median of 96.9% of original list price. Price per square foot was roughly flat, so the higher median reflects larger homes in the mix.

Murphy, TX Housing Market Update – September 2026

Murphy Housing Market Update | Reporting Period: Sep 1–Sep 30, 2026 • Data via NTREIS MLS

About this report. This is The Dunnican Team's monthly housing market update for Murphy, Texas. Every figure comes straight from NTREIS MLS transaction data — what homes actually sold for, not estimates or automated valuations — and each one is measured against the same month a year earlier, because a number only means something when you can see what it used to be. Below you'll find the median sale price, closed sales, active inventory, months of supply, and days on market, along with what each of those actually means if you're weighing a move. We publish these every month so you can watch the trend rather than react to a single number. It's the same picture we walk our own clients through, explained the way we'd explain it across the table.

Quick Read

Murphy's September numbers point to a firmer market than a year ago. All 15 homes that closed were resale, and active listings fell 8.2% to 56, bringing months of inventory down to 4.0, right at the line between balanced and seller-leaning. Homes are selling faster, too, at a median of 46 days to contract, 25 days quicker than last September. The median rose to $650,000, but price per square foot was roughly flat, so most of that gain reflects larger homes in this month's mix.

Key Highlights | Murphy Housing Market Update

Median Price: $650,000 (+30.7% YoY, based on 15 sales)
Closed Sales: 15 (14 in September 2025); all resale
Active Listings: 56 (−8.2% YoY)
Months of Inventory: 4.0 (4.5 in September 2025); resale only: 4.0 (4.6 in September 2025)

Limited transaction volume. A total of 15 homes closed here in September. Percentages calculated on a sample this size can swing sharply from month to month, so the counts matter more than the percentage changes.

Market Commentary

PRICES
The Murphy median sale price was $650,000 in September 2026, up 30.7% from September 2025. Price per square foot barely moved, down 2.2% to $179.42 across all homes and up 2.3% for resale homes. The two differ only because last September's figures included two new-construction sales, while all 15 of this September's closings were resale. Either way, most of the median's jump reflects larger homes in this month's mix rather than a 30% rise in values. The $500,000–$749,999 range was the most active, at 46.7% of sales, followed by $750,000–$999,999 at 26.7%. Homes closed at a median of 96.9% of original list price, well above the DFW Metroplex at 93.8%. For context, the DFW median was $379,990 and the Texas median was $329,900.

SALES ACTIVITY
A total of 15 homes closed in Murphy in September, up from 14 in September 2025, and all of them were resale. The median home took 46 days to go under contract, 25 days faster than a year ago, and 31 days from contract to close. Total time from listing to closing was 77 days, compared with 95 days across the DFW Metroplex.

INVENTORY
Active listings totaled 56, down 8.2% from 61 a year ago, and all but one were resale homes. With sales up and listings down, buyers are absorbing homes faster, and selection is tighter than last fall.

MARKET BALANCE
Months of inventory fell to 4.0 from 4.5 a year ago, and to 4.0 from 4.6 for resale homes, which puts Murphy right at the 4.0-month line between balanced and seller-leaning conditions. That's tighter than the DFW Metroplex at 4.5 months and Texas at 5.5 months. With a 96.9% list-price ratio and faster sale times, Murphy is among the firmer markets in our coverage area this month.

What Sellers Need to Know

Supply is tight at 4.0 months, and homes went under contract in 46 days, 25 days faster than last year.
Homes closed at a median of 96.9% of original list price, one of the strongest ratios in our coverage area this month.
Price per square foot was roughly flat, a better guide to value than the 30.7% median gain.
Fewer competing listings, down 8.2% from a year ago, work in your favor if your home is priced right.

What Buyers Need to Know

Selection is tighter than a year ago, with 56 active listings.
Homes closed at a median of 96.9% of original list price, so expect limited negotiating room on well-priced homes.
Well-priced homes are going under contract in about 46 days, so have your financing ready before you find the right one.
The $500,000–$749,999 range accounted for 46.7% of September's sales.

Murphy Housing Market Outlook: Fall 2026

Murphy heads into the fall firmer than a year ago, with sales up, listings down, and homes selling closer to list price. If that pattern holds, months of supply could stay near 4.0 through the holidays. Mortgage rates moved higher through late September and early October, and if they stay elevated, that could slow buyer activity at Murphy's price points. If rates ease, tight supply suggests well-priced homes would draw competition quickly. With 15 sales in a month, the trend across several months will tell you more than any single report, especially for prices.

Trending in Real Estate News

Housing Market Update: Asking Prices Fall for the First Time Since March (Redfin, October 15, 2026)
National asking prices slipped below last year's level, a record share of sellers cut their price, and Dallas was among the metros with the steepest drop in new listings.
Zillow September 2026 Market Report (Zillow Research, October 6, 2026)
Newly pending sales fell sharply nationwide in September as mortgage rates climbed, while home values stayed close to flat.
Have Mortgage Rates Peaked, or Will We See Even More Chaos? (HousingWire, October 10, 2026)
A look at the bond-market volatility behind this fall's higher mortgage rates, and what it has meant for pending sales and price cuts.
Homebuyers Have More Fresh Options Than They've Had in 4 Years (Redfin, September 3, 2026)
New listings rose nationally while demand stayed flat, though Dallas and Fort Worth were exceptions, with fewer new listings than a year earlier.

Numbers describe a market. They do not describe your home, your street, or your timeline. If you are weighing a move in Murphy, Texas, 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.

Source: Texas REALTORS® Data Relevance Project via MetroTex Association of REALTORS® (Murphy, all construction and existing homes; Dallas-Fort Worth-Arlington MSA; Texas; September 2026, with September 2025 comparisons). Underlying data from NTREIS MLS; analysis provided through the Texas Real Estate Research Center at Texas A&M University. New-construction counts are all-construction figures minus existing-home figures.

Murphy Housing Market FAQs – September 2026

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

Conditions favor well-priced homes. Months of inventory fell to 4.0 in September 2026, homes went under contract in a median of 46 days, and they closed at 96.9% of original list price. Listings are down 8.2%, so you'll face less competition than last fall.

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

Expect a firmer market than a year ago. Selection is tighter, with 56 active listings, and homes are selling close to list price, so negotiating room is limited on well-priced homes.

How long are homes taking to sell in Murphy?

In September 2026, the median home took 46 days to go under contract and 31 days from contract to close, for 77 days in total. That's 26 days faster than a year ago and faster than the DFW Metroplex at 95 days.

Are home prices rising in Murphy?

Not meaningfully. The median jumped 30.7% to $650,000, but price per square foot was roughly flat. With 15 sales, most of the median's rise reflects larger homes in September's mix.

How competitive is the Murphy housing market?

More competitive than a year ago. Months of inventory fell to 4.0, right at the line between balanced and seller-leaning, and sales rose while listings fell.

Have questions about what these numbers mean for your home or your search? Connect with The Dunnican Team. We're glad to walk through your neighborhood and price range.

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