Is Spencer, TN 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 Buyer's Market.
Housing Prices in Spencer, TN
How much do homes in Spencer, TN cost?
Median Sold Price
$325,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Spencer was $325,000 in April 2024, up 39.2% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $205K | $286.2K | +39.6% |
3 Bedrooms | $205K | $324.5K | +58.3% |
4 Bedrooms | $465K | $644.5K | +38.6% |
5+ Bedrooms | $430K | - | N/A |
Summary: Spencer housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 39.6%, 3 bedroom homes increased by 58.3%, 4 bedroom homes increased by 38.6%, and 5+ bedroom homes did not change.
Housing Supply in Spencer, TN
How many homes are available in Spencer, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 33 | +17.9% |
Summary: The Spencer real estate market had 33 homes for sale in April 2024, a 17.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 9 | +28.6% |
3 Bedrooms | 14 | 15 | +7.1% |
4 Bedrooms | 5 | 6 | +20.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Spencer housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 7 | +250.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Spencer in April 2024, up by 250.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Spencer, TN
How long does it take to sell a home in Spencer, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
123 Days | 35 Days | -71.0% |
Summary: Homes in Spencer had an average of 35 days on market in Apr 2024, down by 71% 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
Summary: During April 2024, 7 homes were sold in Spencer; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.