Is Spencer, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spencer is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, Spencer was a Seller's Market.

Key Takeaway

Spencer is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Spencer, TN

How much do homes in Spencer, TN cost?

Median Sold Price

$184,900

$133/sqft

Based on all homes sold in September 2024.

Difference Since Last Month

-$127,550(-40.8%)

Key Takeaway

Homes in Spencer have sold for 40.8% less than they did a month ago.

Summary: The median home sold price in Spencer was $184,900 in September 2024, down 40.8% from last month, and the median price per square foot was $133.

Median Sold Price By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 --
N/A
2 -$355K
N/A
3 $259.9K$182K
-30.0%
4 $425K-
N/A
5+ -$184.9K
N/A

Summary: Spencer housing prices by bedroom type for September 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 30%, 4 bedroom homes did not change, 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

Aug 2024Sep 2024CHANGE
3833-13.2%

Summary: The Spencer real estate market had 33 homes for sale in September 2024, a 13.2% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 24
+100.0%
3 2420
-16.7%
4 97
-22.2%
5+ 32
-33.3%

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 increased by 100%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
85-37.5%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spencer, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in Spencer in September 2024, down by 37.5% month-over-month. Of the 5 sold homes, 0% were sold under asking, 60% were sold at asking, and 40% 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

Aug 2024Sep 2024CHANGE
160 Days64 Days-59.9%

Summary: Homes in Spencer had an average of 64 days on market in Sep 2024, down by 59.9% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Spencer are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 5 homes were sold in Spencer; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

Newest Listings in Spencer, TN

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