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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spencer is a seller's market

Buyer's
Market

Difference Since April 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, NC

How much do homes in Spencer, NC cost?

Median Sold Price

$240,000

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$28,000(+13.2%)

Key Takeaway

Homes in Spencer have sold for 13.2% more than they did a year ago.

Summary: The median home sold price in Spencer was $240,000 in April 2024, up 13.2% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $152K$182K
+19.7%
3 $216K$237.7K
+10.1%
4 $227K$315K
+38.8%
5+ $202.5K$304.9K
+50.6%

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 19.7%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 38.8%, and 5+ bedroom homes increased by 50.6%.

Median Sold Price Compared To Nearby Cities

Franklin Township
+15.1%
Spencer
+13.2%
Salisbury Township
+11.0%
Linwood
+10.4%
East Spencer
+5.2%

Housing Supply in Spencer, NC

How many homes are available in Spencer, NC?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
6068+13.3%

Summary: The Spencer real estate market had 68 homes for sale in April 2024, a 13.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 56
+20.0%
3 3945
+15.4%
4 1312
-7.7%
5+ 35
+66.7%

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 20%, 3 bedroom homes increased by 15.4%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
516+220.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spencer, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in Spencer in April 2024, up by 220.0% month-over-month. Of the 16 sold homes, 75% were sold under asking, 6% were sold at asking, and 19% 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

Apr 2023Apr 2024CHANGE
33 Days67 Days+102.7%

Summary: Homes in Spencer had an average of 67 days on market in Apr 2024, up by 102.7% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Spencer has remained consistent over time.

Summary: During April 2024, 16 homes were sold in Spencer; 31% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 31% 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 9 Days Ago

Newest Listings in Spencer, NC

Nearby Markets to Spencer, NC

What housing markets are near Spencer, NC?