Is Spencer, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Spencer was a Seller's Market.
Housing Prices in Spencer, IN
How much do homes in Spencer, IN cost?
Median Sold Price
$249,900
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Spencer was $249,900 in April 2024, up 23.6% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $143.5K | $42.4K | -70.4% |
2 Bedrooms | $205K | $180.5K | -12.0% |
3 Bedrooms | $150K | $250K | +66.7% |
4 Bedrooms | $284.5K | $299.2K | +5.2% |
5+ Bedrooms | - | $365K | N/A |
Summary: Spencer housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 70.4%, 2 bedroom homes decreased by 12%, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Spencer | $202.2K | $249.9K | +23.6% |
Washington Township | $205K | $235K | +14.6% |
Housing Supply in Spencer, IN
How many homes are available in Spencer, IN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 43 | +38.7% |
Summary: The Spencer real estate market had 43 homes for sale in April 2024, a 38.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 4 | 6 | +50.0% |
3 Bedrooms | 17 | 22 | +29.4% |
4 Bedrooms | 9 | 12 | +33.3% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Spencer housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 29.4%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Spencer in April 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 60% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
44 Days | 4 Days | -89.4% |
Summary: Homes in Spencer had an average of 4 days on market in Apr 2024, down by 89.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Spencer; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.