Is Spencer, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Spencer has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $152K | $182K | +19.7% |
3 Bedrooms | $216K | $237.7K | +10.1% |
4 Bedrooms | $227K | $315K | +38.8% |
5+ Bedrooms | $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 | $260.6K | $300K | +15.1% |
Spencer | $212K | $240K | +13.2% |
Salisbury Township | $243.2K | $270.1K | +11.0% |
Linwood | $240K | $265K | +10.4% |
East Spencer | $217.5K | $228.9K | +5.2% |
Housing Supply in Spencer, NC
How many homes are available in Spencer, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
60 | 68 | +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
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 6 | +20.0% |
3 Bedrooms | 39 | 45 | +15.4% |
4 Bedrooms | 13 | 12 | -7.7% |
5+ Bedrooms | 3 | 5 | +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 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 16 | +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
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 2023 | Apr 2024 | CHANGE |
---|---|---|
33 Days | 67 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
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.