Is Spencer, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spencer is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Spencer has remained a Seller's Market.

Key Takeaway

Spencer is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Spencer, IN

How much do homes in Spencer, IN cost?

Median Sold Price

$277,500

$153/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$53,000(+23.6%)

Key Takeaway

Homes in Spencer have sold for 23.6% more than they did a year ago.

Summary: The median home sold price in Spencer was $277,500 in October 2024, up 23.6% from last year, and the median price per square foot was $153.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $72.1K$150K
+107.9%
2 $175K$170K
-2.9%
3 $250K$285K
+14.0%
4 $257.5K$330.9K
+28.5%
5+ $430K$347K
-19.3%

Summary: Spencer housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 107.9%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 28.5%, and 5+ bedroom homes decreased by 19.3%.

Housing Supply in Spencer, IN

How many homes are available in Spencer, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6863-7.4%

Summary: The Spencer real estate market had 63 homes for sale in October 2024, a 7.4% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 33
0.0%
2 1717
0.0%
3 2829
+3.6%
4 1812
-33.3%
5+ 22
0.0%

Summary: The Spencer housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1718+5.9%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spencer, you may be able to get a good deal. 58.8% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Spencer in October 2024, up by 5.9% month-over-month. Of the 17 sold homes, 59% were sold under asking, 41% were sold at asking, and 0% were sold over asking.

Days on Market for Spencer, IN

How long does it take to sell a home in Spencer, IN?

Average Sale Time

Oct 2023Oct 2024CHANGE
31 Days42 Days+38.2%

Summary: Homes in Spencer had an average of 42 days on market in Oct 2024, up by 38.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Spencer has remained consistent over time.

Summary: During October 2024, 18 homes were sold in Spencer; 11% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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