$10,000 Closing Credit*
$1,280,000
2,728 SqFt
4 Beds
•3 Full Baths
#73307891, Elaine Quigley, Listing Office: Berkshire Hathaway HomeServices Commonwealth Real Estate
Is Spencer, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 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, MA
How much do homes in Spencer, MA cost?
Median Sold Price
$418,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$37,000(+9.7%)
Key Takeaway
Homes in Spencer have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Spencer was $418,000 in September 2024, up 9.7% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $280K | $320K | +14.3% |
| 3 Bedrooms | $385K | $450K | +16.9% |
| 4 Bedrooms | $385K | $456.5K | +18.6% |
| 5+ Bedrooms | $390K | $420K | +7.7% |
Summary: Spencer housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes increased by 7.7%.
Housing Supply in Spencer, MA
How many homes are available in Spencer, MA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 39 | 41 | +5.1% |
Summary: The Spencer real estate market had 41 homes for sale in September 2024, a 5.1% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 21 | 22 | +4.8% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Spencer housing inventory by bedroom type for September 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 4.8%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spencer, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Spencer in September 2024, down by 8.3% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for Spencer, MA
How long does it take to sell a home in Spencer, MA?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 20 Days | 29 Days | +43.7% |
Summary: Homes in Spencer had an average of 29 days on market in Sep 2024, up by 43.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spencer are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 11 homes were sold in Spencer; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
