Clay County Courthouse · Photo: Scott Romine · CC BY-SA 4.0160 homes sold in Spencer in the last year, at a typical $179K
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Spencer homes are listed.
Every place Spencer homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Spencer.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
7% of Spencer’s sales are condos, at $23K more than a house
139 houses and 11 condos sold in the year to May 2026.
typical sale · 139 sold in 12 months
- Per square foot
- $114IA $158
- Days to sell
- 67
- Sold over asking
- 19%
- Listings with a price cut
- 21%
typical sale · 11 sold in 12 months
- Per square foot
- $167IA $165
- Days to sell
- 67
- Sold over asking
- 18%
- Listings with a price cut
- 67%
Multi-family (2–4 units): 7 sold, typical $241K
Townhouses: 3 sold, typical $313K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.3 times the 2017 price
160 sales in the last year, against 193 in 2019 and a low of 140 in 2017. The typical sale went from $135K in 2017 to $179K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $200K buys in Spencer
Check a listing against what Spencer homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Spencer are back to pre-pandemic levels, with about as many homes for sale
We read every month of Spencer’s home sales since 2017 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 160 sales.
If you’re buying in Spencer
- Shop in September. It brings about 21 new listings a month, close to the busiest month, with fewer bidding wars (21% over asking).
- Offer under asking. Buyers paid 97.1% of the list price on average; 19% paid over.
- You’ll usually have time. Only 31% of homes go under contract within two weeks; the typical one takes 71 days.
Fall brings the homes; summer brings the bidding wars
September has the most new listings (about 21 a month), but July is the most competitive: 32% of July sales close over asking. November has the least competition (16%) but only about 11 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Iowa as a whole
| Spencer now | 2017–19 | 2021 peak | IA now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 19% | 16% | 34% | 22% |
| Gone within two weeksShare of homes under contract within 14 days | 31% | 1% | 4% | 36% |
| Listings with a price cutShare of homes for sale that cut their price | 20% | — | — | 27% |
| Price paid vs. askingAverage sale price ÷ list price | 97.1% | 97.1% | 98.2% | 97.7% |
| Days to sellMedian days from listing to contract | 71 | 87 | 65 | 45 |
52 homes for sale on a typical day
That’s 1.3 times the 2023 low (39) and about the 2017–19 level.
1 in 5 listings has cut its price
20% in the last year, against — in 2017–19 and 27% across Iowa.
Since 2019, houses are up 28%, condos 42%
A house typically sold for $173K in the last year (139 sales), a condo for $196K (11).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Spencer ranks 42nd of 64 busy Iowa markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Spencer is in the middle of the pack.
Source: Redfin Data Center, city market tracker, January 2017 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Spencer home costs about $1,129 a month
Price: Spencer’s typical sale, last 12 months. Property tax at Spencer’s 1.3% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Spencer is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in September
The month with the most choice. January has the fewest, about 7.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $179K home, about $2,340 a year.
Taxes vs. neighborsSchools
The schools grade for Spencer, from test results, graduation and how much students grow.
Schools in SpencerCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
No busy market nearby sells for less a square foot; Milford, Arnolds Park, Okoboji and Spirit Lake for far more
The busier markets within 25 miles of Spencer, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Spencer | 160 | $179K | $122 | 19% | 71 |
| Spirit Lake | 118 | $371K | $186 | 14% | 62 |
| Arnolds Park | 93 | $538K | $319 | 9% | 94 |
| Okoboji | 55 | $644K | $395 | 4% | 113 |
| Milford | 46 | $331K | $191 | 11% | 60 |
| Lake Park | 24 | $210K | $143 | 12% | 69 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Spencer, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Spencer. People who follow the town see it, and so do people comparing Spencer with their own town. No commission, no listing fee.
Questions about buying a home in Spencer
What do homes sell for in Spencer, IA?
160 homes sold in the year to May 2026 at a typical $179K, $122 a square foot. Houses sold for about $173K, condos for about $196K.
Is Spencer a buyer’s or seller’s market?
A balanced market: 54 homes were for sale in May 2026 and 10 sold, about 5.4 months of supply. Buyers paid 97.1% of asking on average, and 20% of listings cut their price.
When is the best time to buy in Spencer?
September brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Spencer?
About 1.3% of a home’s value a year. On a $179K home that’s near $2,340.
Where can I see homes for sale in Spencer?
Zillow, Redfin, Realtor.com and Homes.com all carry Spencer’s MLS listings; the search links above open each one filtered to Spencer.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).