$25,000
0.36 Acres
Land
Lara White, Listing Office: Modern Abode Realty
Is Spencer, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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, OK
How much do homes in Spencer, OK cost?
Median Sold Price
$150,250
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$11,550(-7.1%)
Key Takeaway
Homes in Spencer have sold for 7.1% less than they did a year ago.
Summary: The median home sold price in Spencer was $150,250 in October 2024, down 7.1% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $12K | N/A |
| 2 Bedrooms | $100K | $87K | -13.0% |
| 3 Bedrooms | $159.9K | $160.5K | 0.4% |
| 4 Bedrooms | $215K | $180K | -16.3% |
| 5+ Bedrooms | - | - | N/A |
Summary: 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 decreased by 13%, 3 bedroom homes increased by 0.4%, 4 bedroom homes decreased by 16.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Midwest City | $166.3K | $184.3K | +10.8% |
| Oklahoma City Southeast | $187K | $199.8K | +6.9% |
| Nicoma Park | $214K | $218.8K | +2.2% |
| Oklahoma City | $249.9K | $252.5K | +1.0% |
| Spencer | $161.8K | $150.2K | -7.1% |
Housing Supply in Spencer, OK
How many homes are available in Spencer, OK?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Summary: The Spencer real estate market had 18 homes for sale in October 2024, a 20.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 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 27.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Spencer, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Spencer in October 2024, up by 200.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for Spencer, OK
How long does it take to sell a home in Spencer, OK?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 50 Days | 69 Days | +38.1% |
Summary: Homes in Spencer had an average of 69 days on market in Oct 2024, up by 38.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Spencer are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in Spencer; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Copyright© 2024 MLSOK, Inc. All rights reserved. Certain information contained herein is derived from information which is the licensed property of, and copyrighted by, MLSOK, Inc. We do not attempt to independently verify the currency, completeness, accuracy or authenticity of the data contained herein. It may be subject to transcription and transmission errors. Accordingly, the data is provided as is, as available basis only and may not reflect all real estate activity in the market. The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 