Published November 5, 2026 in Market Update

Murphy sales slowed, but fewer homes are for sale too

By Jaime Cantu

Real estate, Murphy

Nationally, Realtor.com counted 1.18 million active listings in October 2026. More supply usually means more choices and softer prices. But Murphy is not following that script. The Real Estate Data Aggregator counted 199 homes for sale across Murphy in the three months ending August 31, 2026. That is down 17.8% from the same period a year before. Fewer homes for sale here, while the national count grew. That gap matters for how you price and when you move.

Sales slowed too. The Real Estate Data Aggregator counted 144 homes sold across Murphy in those three months, down 8.9% from a year before. So both sides of the market pulled back. Fewer sellers listed, and fewer buyers closed. That kind of balance tends to keep prices from swinging hard in either direction.

The two ZIP codes inside Murphy tell different stories

Murphy sits across two ZIP codes, 75094 and 75074. They do not move the same way. It helps to look at each one separately.

In 75094, the Real Estate Data Aggregator shows the median sale price reached $640,000, up 16.3% from a year before. That is a meaningful jump. But homes sat on the market a median of 52 days, which is 12 days longer than a year ago. And only 5.9% of homes sold above list price, down 5 points from a year before. Prices moved up, but buyers are taking more time and paying less over asking.

In 75074, the median sale price held at $375,000, unchanged from a year before. Homes sold faster there, a median of 35 days, one day quicker than a year ago. And 20.4% of homes sold above list price, up 5.2 points. That ZIP code showed more competition at a lower price point, even as overall sales volume fell.

Rates are making buyers more careful everywhere

Mortgage rates are not helping. CNBC reported the average 30-year fixed rate dropped to 7.3% as of November 4, 2026. Realtor.com noted rates peaked at 7.40% in mid-October 2026. At those levels, monthly payments stay high. Realtor.com also reported national pending sales fell 10.5% year over year in October 2026, the steepest drop since October 2023. Murphy's pending sales fell 9.2% over the same stretch. The local number is close to the national one, but the local supply story is different.

That drop in new listings, down 12.1% to 226 homes, is worth noting. When sellers stay on the sidelines, buyers have less to choose from. That can keep prices steadier even when sales slow. The Federal Housing Finance Agency reported U.S. home prices rose 2.4% from August 2025 to August 2026. Murphy's 75094 outpaced that by a wide margin. Murphy's 75074 held flat.

What this means if you own a home in Murphy

Inventory is tighter here than the national headlines suggest. That is a real difference. But buyers are slower to decide, and most homes are selling at or just below list price. In 75094, the Real Estate Data Aggregator shows 97% of list price on average. In 75074, it was 97.5%. Pricing close to market value still matters. Homes that stretch too far above it are sitting longer.

One more detail worth knowing. Murphy is split between Wylie ISD and Plano ISD. Which side of that line a home sits on is a real factor for many buyers. The Real Estate Data Aggregator covers ZIP codes, not ISD boundaries. Always check the school assignment for a specific address directly with the district before making any decision based on it.