$1,187 Closing Credit*
$99,999
1,008 SqFt
2 Beds
•2 Full Baths
Theodore Brown, Listing Office: Brix Realty
Is Spencer, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Spencer was a Seller's Market.
Key Takeaway
Spencer is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Spencer, OK
How much do homes in Spencer, OK cost?
Median Sold Price
$148,000
$121/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$13,800(-8.5%)
Key Takeaway
Homes in Spencer have sold for 8.5% less than they did a year ago.
Summary: The median home sold price in Spencer was $148,000 in September 2024, down 8.5% from last year, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $12K | N/A |
| 2 Bedrooms | $65K | $91K | +40.0% |
| 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 September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 40%, 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 | $165K | $182K | +10.3% |
| Oklahoma City Southeast | $185.6K | $199.4K | +7.4% |
| Oklahoma City | $249.6K | $250.3K | 0.2% |
| Spencer | $161.8K | $148K | -8.5% |
Housing Supply in Spencer, OK
How many homes are available in Spencer, OK?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Summary: The Spencer real estate market had 15 homes for sale in September 2024, a 6.3% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
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 decreased by 25%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spencer, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Spencer in September 2024, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 41 Days | 17 Days | -57.6% |
Summary: Homes in Spencer had an average of 17 days on market in Sep 2024, down by 57.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 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, 2 homes were sold in Spencer; 100% 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.
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