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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inside DFW real estate

monthly market update

Murphy's median home price rose 2.0% year over year in July 2026 to $561,500, while closed sales fell 14.3% to 12 — a low enough sales count that this figure should be read with some caution. Active listings rose 4.4% to 71, and months of inventory ticked up to 5.4, keeping the market in buyer-leaning territory.

Murphy, TX Housing Market Update | Reporting Period: July 1–31, 2026

Key Highlights | Murphy Housing Market Update

Median Price: $561,500 (+2.0% year over year)
Closed Sales: 12 (-14.3% year over year)
Active Listings: 71 (+4.4% year over year)
Months of Inventory: 5.4 (up from 5.2 last July)

A note on this month's numbers: Murphy closed 12 sales in July — a small enough sample that month-to-month percentage swings can look larger than the underlying shift in demand. We'd read this month's figures as directional rather than definitive.

PRICES
Median price was $561,500, up 2.0% from July 2025. Price per square foot held essentially flat, down just 0.1% to $184.11 — a consistent, stable pricing picture.

SALES ACTIVITY
Murphy closed 12 sales in July, down 14.3% from a year ago. With a sample this size, a couple of fewer transactions is enough to move the percentage meaningfully.

INVENTORY
Active listings rose 4.4% year over year to 71. Months of inventory ticked up to 5.4, up two-tenths of a month from last July.

MARKET BALANCE
At 5.4 months of supply, Murphy leans toward buyers. Days on market rose to 45, up 11 days from last July, and homes are closing at 94.2% of original list price.

What Sellers Need to Know

Median price is up 2.0% year over year, a modest but real gain.
Homes are taking somewhat longer, averaging 45 days on market.
The 94.2% close-to-list ratio means buyers are negotiating a bit more than last year.
The $500K–$749K band dominates Murphy's market at 66.7% of closed sales.

What Buyers Need to Know

At 5.4 months of supply, you have reasonable selection and some negotiating room.
Median home size here is a spacious 3,646 square feet.
Homes are sitting a bit longer, giving you more time to decide.
Two-thirds of closed sales fell between $500K and $749K, a useful budget reference.

2026 Murphy Housing Market Forecast

Given Murphy's relatively low monthly sales volume, expect continued month-to-month bounce in the percentage figures without necessarily reflecting a major underlying shift. If inventory holds near current levels, the market should stay buyer-leaning through the rest of the year. If mortgage rates ease, watch for sales activity to pick back up, which could help stabilize the market further. Sellers who price competitively and buyers ready to negotiate should both find reasonable opportunities ahead.

Trending in Real Estate News

Realtor.com: National inventory continues climbing even as mortgage rates hover near 6.67%, giving buyers more room to negotiate heading into fall. Read more
Redfin: Pending home sales edged up slightly in early August after a slow summer, though they remain below last year's pace nationally. Read more
MetroTex Association of REALTORS®: North Texas inventory growth is starting to slow, with DFW posting modest year-over-year declines in active listings — an early sign the region may be stabilizing. Read more
Zillow: Zillow's latest national forecast calls for roughly flat home price growth over the next year, with Dallas-area metros among those it expects to see modest price declines. Read more

Thinking about buying or selling in Murphy? The Dunnican Team would love to help you make sense of what these numbers mean for your specific situation. Reach out anytime — we're happy to talk through your options, no pressure, no obligation.

Source: Texas REALTORS® MarketViewer — NTREIS data via the Texas REALTOR® Data Relevance Project, MetroTex Association of REALTORS® (July 1–31, 2026, compared to July 2025). Murphy's monthly sales volume is relatively low, and month-to-month percentage changes should be interpreted with that in mind. The Dunnican Team at Coldwell Banker Apex, Realtors® | TREC License #0461619 | Designated Broker: Lori Arnold | Equal Housing Opportunity

Murphy Housing Market FAQs

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

Median price is up 2.0% year over year, and homes are closing at 94.2% of original list price. Days on market have lengthened somewhat, so realistic pricing helps.

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

Yes — at 5.4 months of supply, you have reasonable selection and some negotiating room in this market.

How long are homes sitting on the market in Murphy?

The average is 45 days on market, up 11 days from July 2025. Add the typical 25 days from contract to close, and the full process runs about 70 days.

Are home prices rising or falling in Murphy?

Prices are up modestly, 2.0% year over year to $561,500. Price per square foot held essentially flat, confirming a stable pricing picture.

How competitive is the Murphy housing market right now?

Leaning toward buyers at 5.4 months of supply. With only 12 sales this month, we'd caution against reading too much into any single month's percentage changes.

Contact The Dunnican Team

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