Is East Spencer, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing East Spencer is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, East Spencer was a Seller's Market.

Key Takeaway

East Spencer is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in East Spencer, NC

How much do homes in East Spencer, NC cost?

Median Sold Price

$200,000

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$19,850(-9.0%)

Key Takeaway

Homes in East Spencer have sold for 9% less than they did a year ago.

Summary: The median home sold price in East Spencer was $200,000 in October 2024, down 9% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$180K
N/A
2 $105K$167.5K
+59.5%
3 $219.9K$217K
-1.3%
4 -$229.9K
N/A
5+ $262.5K-
N/A

Summary: East Spencer housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 59.5%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Salisbury
+6.4%
Salisbury Township
+4.4%
Spencer
0%
East Spencer
-9.0%

Housing Supply in East Spencer, NC

How many homes are available in East Spencer, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1719+11.8%

Summary: The East Spencer real estate market had 19 homes for sale in October 2024, a 11.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 1316
+23.1%
4 11
0.0%
5+ 00
0.0%

Summary: The East 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 decreased by 33.3%, 3 bedroom homes increased by 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in East Spencer, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.

Summary: A total of 3 homes were sold or pending in East Spencer in October 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.

Days on Market for East Spencer, NC

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

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days19 Days-23.8%

Summary: Homes in East Spencer had an average of 19 days on market in Oct 2024, down by 23.8% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in East Spencer are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 3 homes were sold in East Spencer; 67% of homes were sold within 30 days, 33% 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

Newest Listings in East Spencer, NC

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