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Featured local agent — Spencer, IN
Sarah Mitchell
Compass Real Estate · Spencer, IN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Spencer, IN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$255,000median sale price
How is the Spencer, IN housing market right now?
The median home sale price in Spencer, IN is $255,000, up 32.5% year-over-year. Homes sell in an average of 82 days with 11 active listings. The market is currently a buyer's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Spencer a buyer's or seller's market?
Spencer, IN is currently a buyer's market, based on 11.0 months of supply and homes selling in about 82 days. How we determine this →
Homes sold
1
Last 12 weeks
Days on market
82
Average pace
Active listings
11
11.0 months supply
Sale-to-list
96.2%
Below asking
What does the Spencer housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $255,000 |
| Median list price | $224,900 |
| Year-over-year price change | +32.5% |
| Average days on market | 82 days |
| Active inventory | 11 listings |
| Months of supply | 11.0 months |
| Sale-to-list price ratio | 96.2% |
| Median price per sq ft | $79/sq ft |
| Homes sold (latest month) | 1 |
| New listings (latest month) | 5 |
| Listings with a price cut | 27.3% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in Spencer by property type?
How the Spencer, IN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $255,000 | $79/sq ft | 1 | 82 days |
| Condo / Co-op | $225,000 | $174/sq ft | 1 | 69 days |
| Townhouse | $221,900 | $144/sq ft | 1 | 352 days |
Source: Redfin · Updated monthly
The Spencer housing market is currently classified as a buyer's market with a median sale price of $255,000. Prices have risen 32.5% compared to last year, with homes spending an average of 82 days on market, indicating 11.0 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.The price-to-income ratio of 5.4x provides context for how home values compare to local earning capacity.
Homes for sale in Spencer
There are currently 11 homes listed for sale in Spencer, Indiana. The median listing price is $225K.
Active listings
11
Homes on market
Median list price
$225K
Avg. days on market
82
Days until sale
New this week
5
Newly listed
Who lives in Spencer?
Population
2,308
Median income
$47,994/yr
Median age
49.4 years
Owner-occupied
65.6%
College grads
18.3%
Avg commute
18.9 min
Source: U.S. Census Bureau ACS
What are homes worth in Spencer?
Zillow home value
$256,999
Price-to-income
5.4x
Source: Zillow Research
What is it like to live in Spencer?
Spencer is a community of approximately 2K residents with a median age of 49.4 years.The median household income is $47,994, which represents a working-class community with solid middle-income opportunities. 18.3% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 65.6%, reflecting strong community stability and long-term resident commitment. The average commute time is 18.9 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Spencer offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Spencer?
4 schools tracked · 1,928 students
The largest public schools serving Spencer, IN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Owen Valley Community High School
Grades 9-12 · 650 students
Spencer Elementary School
Grades PK-6 · 557 students
McCormick's Creek Elementary Sch
Grades PK-6 · 383 students
Owen Valley Middle School
Grades 7-8 · 338 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Spencer, IN?
Want a head-to-head view? Compare Spencer side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Spencer?
The median home sale price in Spencer is $255,000, up 32.5% from last year.
How long do homes stay on market in Spencer?
Homes typically spend 82 days on market before going under contract.
What is the median income in Spencer?
The median household income is $47,994 per year.
Is Spencer a buyer's or seller's market?
With 11.0 months of supply, Spencer is currently a buyer's market.
What is the Zillow home value estimate for Spencer?
The Zillow Home Value Index (ZHVI) for Spencer is $256,999, representing the typical home value in the area.
What is the median condo price in Spencer?
The median condo/co-op sale price in Spencer, IN is $225,000, compared to $255,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Spencer?
The median single-family home price in Spencer, IN is $255,000 (about $79 per square foot).
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