Is Spencer, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$400,000
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Spencer have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in Spencer was $400,000 in May 2024, up 5.6% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $93.7K | - | N/A |
| 2 Bedrooms | $295K | $300K | +1.7% |
| 3 Bedrooms | $390K | $400K | +2.6% |
| 4 Bedrooms | $440K | $417.4K | -5.1% |
| 5+ Bedrooms | $380K | $426K | +12.1% |
Summary: Spencer housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes increased by 12.1%.
Housing Supply in Spencer, MA
How many homes are available in Spencer, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 31 | +6.9% |
Summary: The Spencer real estate market had 31 homes for sale in May 2024, a 6.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Spencer housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spencer, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Spencer in May 2024, up by 20.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 27 Days | -4.6% |
Summary: Homes in Spencer had an average of 27 days on market in May 2024, down by 4.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 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 May 2024, 12 homes were sold in Spencer; 58% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
