Spencer Housing Market Report February 2025•Rowan County, North Carolina

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Housing Prices in Spencer, NC

How much do homes in Spencer, NC cost?

Housing Market Conditions

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

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Spencer is a Neutral Market

Difference Since February 2024

At the same time last year, Spencer was a Buyer's Market.

Insight

Spencer is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$225,000$153/SqFt
-$9,995
-4.3%

Based on all homes sold in the last 12 months

Insight

Homes in Spencer have sold for 4.3% less than they did a year ago.

Summary: The median home sold price in Spencer was $225,000 in February 2025, down 4.3% from last year, and the median price per square foot was $153.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Linwood
+9.8%
Franklin Township
+8.2%
Salisbury Township
+2.0%
Spencer
-4.3%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1--
N/A
2$173.5K$164K
-5.5%
3$236.2K$235K
-0.5%
4$277.4K$315K
+13.6%
5$232.4K$275K
+18.3%

Summary: Spencer housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -5.5%. The home price for 3 bedroom homes decreased by -0.5%. The home price for 4 bedroom homes increased by +13.6%. The home price for 5 bedroom homes increased by +18.3%.

Housing supply in Spencer, NC

How many homes are available in Spencer, NC?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
31Last MonthFeb 2025
372 months agoJan 2025
-16.2 %
Change MoMJan – Feb

Summary: The Spencer real estate market had 31 homes for sale in Feb 2025, a 16.2 % decrease compared to Jan 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
5Last MonthFeb 2025
112 months agoJan 2025
-54.5 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
100
0.0%
253
-40.0%
32318
-21.7%
523
+50.0%
477
0.0%

Summary: Spencer housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -40.0%. The inventory for 3 bedroom homes decreased by -21.7%. The inventory for 5 bedroom homes increased by +50.0%. The inventory for 4 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Spencer, NC cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price0 Home

Under Asking Price5 Homes

Insight

If you're buying a home in Spencer, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Spencer in February 2025, down by 54.5% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.

Days on Market for Spencer, NC

How long does it take to sell a home in Spencer, NC?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days2 Homes

Over 90 Days2 Homes

Insight

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

Summary: During February 2025, 5 homes were sold in Spencer; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
147 DaysThis YearFeb 2025
40 Days1 year agoFeb 2024
+261.2 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Spencer had an average listing age of 147 days in Feb 2025, up by 261.2% compared to the previous year.

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Newest Listings in Spencer, NC

What homes are available in Spencer, NC?

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Nearby markets

Popular Cities with Homes for Sale in North Carolina

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/6/2025, 4:21:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Copyright © 2025 Triad Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. This site will be monitored for ‘scraping’ and any use of search facilities of data on the site other than by potential buyers/sellers is prohibited. All Sale data is for informational purposes only and is not an indication of a market analysis or appraisal. Properties marked with the Triad MLS, Inc. icon are provided courtesy of the Triad MLS, Inc.’s, Internet Data Exchange Database.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/6/2025, 4:20:47 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.