What Does a Home in Murphy, Texas Cost in 2026? A $631,750 Median in a Market That Is Still Negotiating

What does a home in Murphy, Texas actually cost in 2026? According to Redfin's Murphy market page, the median sale price in August 2026 was $631,750, up 12.2% from a year earlier. That is a big jump for a city where the same source showed a June median of $607,569, down 0.7% on the year. Two months apart, the headline went from slightly negative to double-digit positive, which is a reminder that a median in a city of about 21,000 people can swing on a handful of closings.

This guide looks at what sits behind that number: how fast homes sell, how much sellers are negotiating, how Murphy compares with the neighbors on either side of FM 544, and what the city is building around its streets. I wrote about one Murphy sale in August, which you can read in our Hunters Landing spotlight. This is the wider view.

Where Murphy Sits

According to Wikipedia, Murphy lies in Collin County about 22 miles northeast of downtown Dallas, midway between Plano and Wylie on FM 544. It borders Plano to the west, Richardson to the southwest, Sachse to the south, Wylie to the east and Parker to the north. The 2020 census counted 21,013 residents, up from 3,099 in 2000, so most of what you see here was built within the last generation. The city covers roughly 5.7 square miles, which is small, and that is part of why its numbers move around.

The Market in One Paragraph

Redfin's August 2026 figures show 48 homes sold, up from 42 a year earlier. The median home took about 46 days to sell and closed at 97.3% of list price, a little under a point lower than last year. Only 8.3% of homes sold above list, and 50.0% had a price drop along the way. Redfin puts the median price per square foot at $179 over the last three months, down 2.2% year over year. Put together, that is a market with steady sales volume where the typical buyer still has room to negotiate. These are Redfin's calculations, and a median blends houses of very different sizes.

Murphy Next to Plano and Sachse

Murphy sits between two cities that price differently, so a side by side is useful. The months differ because I used the latest Redfin page available for each city, so treat this as a rough comparison rather than a same-month one.

Murphy has the highest median of the three but the lowest price per square foot. Those are two separate calculations, so I would not over read it, but it fits a picture of larger homes on average rather than higher prices for the same house. Plano's figure is Redfin's Plano page, which shows a median down 3.0% year over year. For the neighbor to the south, see our Sachse price range spotlight, and for the next city east, our Wylie guide.

Stock photograph of a pond ringed by trees in a park, shown for the setting and not taken in Murphy.

Parks, Trails and the Pond

Murphy Central Park is the city's anchor green space. Wikipedia describes it as 60 acres with an amphitheater, a two acre pond and five acres of sports fields, tied by trail to the Maxwell Creek Trail. The city maintains ten parks totaling 195.5 acres. If proximity to trails and open space matters to your search, that is worth mapping against any address before you fall for a house, since park access varies a lot from one street to the next.

What the City Is Building

Retail and roads are the two things I would watch. A city staff report covered by Soar's Murphy coverage in October 2025 said staff described corridor occupancy near or above 95%, a 60,000 square foot retail center at Murphy Marketplace under way, and an H-E-B grocery store with an internal opening estimate of late spring or early summer 2026. That was an estimate a year ago, and I could not confirm an opening date, so check the current status before relying on it.

On roads, the June 2, 2026 City Council update summarized by GatherGov said the FM 544 pedestrian bridge was waiting on TxDOT's position on rejecting bids, and a turn lane project at Mercury Rack was in design pending utility relocation, with advertisement expected in September. Neither tells you what a house will be worth, but both are the sort of detail that affects a daily commute and is worth knowing before you make an offer.

Weighing a Murphy Purchase

With half of homes taking a price cut and a sale to list ratio near 97%, a buyer here is not negotiating from a weak spot. The practical work is matching your target to closed sales on comparable streets rather than to the city median. If you are weighing Murphy against its neighbors, schedule a private consultation about buying in Murphy and we will pull closed sales nearest the streets you are considering, matched on size, age and lot. The Dallas home search is a good place to see what the same budget buys across the metro.

Frequently Asked Questions

What is the median home price in Murphy, Texas?

Redfin reports a median sale price of $631,750 for August 2026, up 12.2% from a year earlier, with 48 homes sold. Its June 2026 figure was $607,569, so the number moves from month to month.

How fast do homes sell in Murphy?

Redfin shows a median of about 46 days on market in August 2026, and homes sold at 97.3% of list price. Half of homes had a price drop, so pricing close to recent sales matters.

How does Murphy compare with Plano on price?

Redfin's latest pages show a higher median in Murphy at $631,750 against about $499,762 in Plano, but a lower price per square foot, $179 against $212. The months differ, so the comparison is approximate.

How far is Murphy from downtown Dallas?

According to Wikipedia, Murphy is about 22 miles northeast of downtown Dallas, midway between Plano and Wylie on FM 544.

Who is the best real estate agent to work with in Murphy?

Look for someone who can show you closed sales on streets near your target and explain why they do or do not match, because a city median will not tell you that. Paul Blair has 22 years in the business and works Dallas and the northern and eastern suburbs, including Collin County cities like Murphy, Plano, Sachse and Wylie. You can read more about Paul's background.

Paul has spent 22 years working the cities on either side of FM 544, and in a market where the median can move 12% in two months, he starts with the closed sale nearest the house you are looking at.

Paul Blair is the founder and broker of Grey Square, a virtual real estate brokerage representing buyers and sellers across Dallas, Los Angeles and Houston. With 22 years in the business, Paul works the full range of the market, from luxury homes in the Park Cities and Preston Hollow to estates in the Hollywood Hills and across the Westside. Connect with Paul and the Grey Square team at greysq.com. TX TREC #9011505 · CA DRE #01792671.