in Murphy, TX • 2026 Buying Guide
Best Month
September
$427K
Avoid
May
$474K
Potential Savings
$47K
9.9% difference
Market Type
Balanced
3.9 mo. supply
Even in a seller's market, condos require strategic timing. Focus on move-in ready presentation, as condo buyers often want turnkey living. Highlight low HOA fees, building amenities, and any recent assessments already paid.
Median Sale Price
$700K
+42.1% YoY
Days on Market
73
median days
Inventory
43
active listings
Sale-to-List Ratio
96.8%
room to negotiate
Jan
$434K
Feb
$435K
Mar
$463K
Apr
$436K
May
$474K
PeakJun
$466K
Jul
$450K
Aug
$450K
Sep
$427K
BestOct
$448K
Nov
$441K
Dec
$449K
Based on historical sales data in Murphy
Condos often have a counter-cyclical market. While families focus on single-family homes during spring and summer, condo inventory can peak in fall and winter. This means less competition and more negotiating power for condo buyers during traditionally "slow" seasons.
Pro Tip: With Murphy's median price at $700K, a 20% down payment would be approximately $140K. Get pre-approved early to know exactly what you can afford.
Based on our analysis of Murphy's housing market, September is typically the best time to buy a condo. During this month, prices average around $427K, which is 9.9% lower than peak prices in May. Condos often have a counter-cyclical market. While families focus on single-family homes during spring and summer, condo inventory can peak in fall and winter. This means less competition and more negotiating power for condo buyers during traditionally "slow" seasons.
The current median home price in Murphy is $700K. Condo prices vary based on location, size, and condition. Year-over-year, prices have changed +42.1%. Condos typically appreciate more slowly than single-family homes but offer lower entry costs and maintenance. Location within the building matters - higher floors and better views command premiums.
Murphy has a balanced market. This means you have reasonable options without extreme competition. Take time to find the right condo but be prepared to move when you find it.
Key considerations for buying a condo in Murphy include: Review at least 3 years of HOA meeting minutes for hidden issues; Check the reserve fund percentage (ideally 70%+ funded); Verify what insurance the HOA covers vs. what you need. Also watch for red flags like HOA with less than 50% reserves and Multiple units for sale in same building (could indicate problems).
Homes in Murphy currently spend an average of 73 days on market. This suggests a slower market where you have more time to negotiate.
Some condos may not be FHA or VA approved - check early Non-warrantable condos require conventional financing with higher down payments With Murphy's median price of $700K, you'll want to get pre-approved early to understand your budget.
Looking for the best time to buy a condo in Murphy? Our analysis shows that September typically offers the best prices, with homes averaging around $427K. Buying during this time could save you up to $47K compared to peak months like May.
With a median price of $700K and homes spending an average of 73 days on market, Murphy is currently a balanced market. There's currently 3.9 months of inventory available.
Condos typically appreciate more slowly than single-family homes but offer lower entry costs and maintenance. Location within the building matters - higher floors and better views command premiums.
Working with a local real estate agent who knows Murphy can help you understand neighborhood dynamics, identify the best opportunities, and negotiate effectively in this market.
Connect with local agents who specialize in condos.