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Featured local agent — Spencer, NC
Sarah Mitchell
Compass Real Estate · Spencer, NC
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Spencer, NC Housing Market & Real Estate
Housing market overview · Updated monthly ·
$202,500median sale price
How is the Spencer, NC housing market right now?
The median home sale price in Spencer, NC is $202,500, down 45.1% year-over-year. Homes sell in an average of 150 days with 22 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, NC is currently a buyer's market, based on 5.5 months of supply and homes selling in about 150 days. How we determine this →
Homes sold
4
Last 12 weeks
Days on market
150
Average pace
Active listings
22
5.5 months supply
Sale-to-list
95.3%
Below asking
What does the Spencer housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $202,500 |
| Median list price | $504,389 |
| Year-over-year price change | -45.1% |
| Average days on market | 150 days |
| Active inventory | 22 listings |
| Months of supply | 5.5 months |
| Sale-to-list price ratio | 95.3% |
| Median price per sq ft | $158/sq ft |
| Homes sold (latest month) | 4 |
| New listings (latest month) | 2 |
| Listings with a price cut | 22.7% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in Spencer by property type?
How the Spencer, NC market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $202,500 | $158/sq ft | 4 | 150 days |
Source: Redfin · Updated monthly
The Spencer housing market is currently classified as a buyer's market with a median sale price of $202,500. Prices have fallen 45.1% compared to last year, with homes spending an average of 150 days on market, indicating 5.5 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 3.2x provides context for how home values compare to local earning capacity.
Homes for sale in Spencer
There are currently 22 homes listed for sale in Spencer, North Carolina. The median listing price is $504K.
Active listings
22
Homes on market
Median list price
$504K
Avg. days on market
150
Days until sale
New this week
2
Newly listed
Who lives in Spencer?
Population
3,305
Median income
$64,031/yr
Median age
45.7 years
Owner-occupied
64.3%
College grads
21.4%
Avg commute
30.3 min
Source: U.S. Census Bureau ACS
What are homes worth in Spencer?
Zillow home value
$206,613
Price-to-income
3.2x
Source: Zillow Research
What is it like to live in Spencer?
Spencer is a community of approximately 3K residents with a median age of 45.7 years.The median household income is $64,031, which represents a working-class community with solid middle-income opportunities. 21.4% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 64.3%, showing a blend of owner and renter-occupied properties. The average commute time is 30.3 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Spencer offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Spencer?
3 schools tracked · 1,569 students
The largest public schools serving Spencer, NC 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.
North Rowan High
Grades 9-12 · 592 students
North Rowan Middle
Grades 6-8 · 564 students
North Rowan Elementary
Grades PK-5 · 413 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, NC?
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 $202,500, down 45.1% from last year.
How long do homes stay on market in Spencer?
Homes typically spend 150 days on market before going under contract.
What is the median income in Spencer?
The median household income is $64,031 per year.
Is Spencer a buyer's or seller's market?
With 5.5 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 $206,613, representing the typical home value in the area.
How much does a single-family home cost in Spencer?
The median single-family home price in Spencer, NC is $202,500 (about $158 per square foot).
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