Today's look at the new home listings in Murphy indicates a drop in all price ranges except for those priced $354,900 and above. Two factors that play a major role in the increase of the higher price range has to do with the increase in recent months of the sales price of homes and the new construction that is being built in several of Murphy's neighborhoods. Homeowners remain hesitant to step out into today's market which weighs heavily on the number of new listings on the market.
Last summer really brought home this fact to buyers when the market flipped. It became a seller's market in what seemed like overnight to unsuspecting buyers. It was evident in the early part of 2013 as seen by the numbers but was a major influence by summer. And it remains a seller's market due to even less inventory available for sale. With June upon us it is always possible to see an increase in the supply of inventory but more than likely we will see an increase in buyers.
So what can Murphy home buyer's expect to pay? A quick look at the median sales price indicates that the market doesn't fluctuate much until the $354,900 and above price range. The median price range reflects a middle point where 50% are higher or lower than the sales price amount shown. The average sales price for the month of May 2014 is $304,795 with a low of $174,125 and a high of $516,000. These averages vary from neighborhood to neighborhood. To get a perspective on the neighborhood you are looking to buy a home in give me a call and we can schedule some time together.
Sellers, a look at the percentage of list price gained on the sale of homes will give you an idea of how much you may expect to earn based on the listing price. The location and condition of homes remain to be big influencers in the actual sales price. If you would like to discuss your options please call so we can schedule some time together.
Although homes are sold in all areas of Murphy the list below represents neighborhoods with 3 or more homes sold during the month of May, 2014:
- Glen Ridge Estates
- Maxwell Creek
- The Ranch
- Rolling Ridge
Always here to answer any questions you may have regarding the sale or purchase of your Murphy home. And if you find this information useful please feel free to subscribe for updates below.
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