Is Spencer, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Spencer was a Seller's Market.
Housing Prices in Spencer, NC
How much do homes in Spencer, NC cost?
Median Sold Price
$236,245
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Spencer was $236,245 in March 2024, up 10.1% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $156K | $190K | +21.8% |
3 Bedrooms | $217K | $240K | +10.6% |
4 Bedrooms | $254.9K | $285.9K | +12.2% |
5+ Bedrooms | $284.5K | $232.4K | -18.3% |
Summary: Spencer housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.8%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes decreased by 18.3%.
Median Sold Price Compared To Nearby Cities
Linwood | $223.7K | $265K | +18.5% |
Franklin Township | $256K | $298.5K | +16.6% |
Salisbury Township | $231K | $267.8K | +15.9% |
Spencer | $214.5K | $236.2K | +10.1% |
East Spencer | $217.5K | $224K | +3.0% |
Housing Supply in Spencer, NC
How many homes are available in Spencer, NC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
51 | 58 | +13.7% |
Summary: The Spencer real estate market had 58 homes for sale in March 2024, a 13.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 6 | 0.0% |
3 Bedrooms | 33 | 39 | +18.2% |
4 Bedrooms | 10 | 10 | 0.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Spencer housing inventory by bedroom type for March 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 18.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 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 March 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, NC
How long does it take to sell a home in Spencer, NC?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
56 Days | 42 Days | -24.8% |
Summary: Homes in Spencer had an average of 42 days on market in Mar 2024, down by 24.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Spencer; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.