Spencer Public Library · Photo: Nyttend · Public domain24 homes sold in Spencer in the last year, at a typical $185K
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.
Houses are 83% of Spencer’s sales, at a typical $182K
24 homes sold in the year to May 2026.
typical sale · 20 sold in 12 months
- Per square foot
- $154IN $148
- Days to sell
- 52
- Sold over asking
- 5%
- Listings with a price cut
- 28%
Condos: 4 sold, typical $218K
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2022, at 2.2 times the 2016 price
24 sales in the last year, against 48 in 2021 and a low of 26 in 2022. The typical sale went from $85K in 2016 to $185K.
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 rarer than before the pandemic, but a third fewer homes come up for sale
We read every month of Spencer’s home sales since 2015 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, 24 sales.
If you’re buying in Spencer
- Shop in March. It brings about 4 new listings a month, close to the busiest month, with fewer bidding wars (6% over asking).
- Offer under asking. Buyers paid 94.6% of the list price on average; 4% paid over.
- You’ll usually have time. Only 41% of homes go under contract within two weeks; the typical one takes 51 days.
Fall brings the homes; summer brings the bidding wars
September has the most new listings (about 4 a month), but June is the most competitive: 25% of June sales close over asking. March offers nearly as much choice with fewer homes bid up (6%). January has the least competition (5%) but only about 2 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and calmer than Indiana
| Spencer now | 2017–19 | 2021 peak | IN now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 4% | 14% | 19% | 19% |
| Gone within two weeksShare of homes under contract within 14 days | 41% | 2% | 0% | 37% |
| Listings with a price cutShare of homes for sale that cut their price | 21% | — | — | 33% |
| Price paid vs. askingAverage sale price ÷ list price | 94.6% | 95.1% | 96.3% | 97.7% |
| Days to sellMedian days from listing to contract | 51 | 111 | 67 | 35 |
9 homes for sale on a typical day
That’s 1.3 times the 2024 low (6), 31% fewer than in 2017–19 and well under 2015’s 18.
1 in 5 listings has cut its price
21% in the last year, against — in 2017–19 and 33% across Indiana.
Source: Redfin Data Center, city market tracker, January 2015 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 $1,074 a month
Price: Spencer’s typical sale, last 12 months. Property tax at Spencer’s 0.7% (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. February has the fewest, about 1.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $185K home, about $1,310 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.
Cloverdale and Brazil sell for less a square foot
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 | |
|---|---|---|---|---|---|
| Bloomington | 645 | $334K | $185 | 11% | 68 |
| Ellettsville | 187 | $327K | $188 | 18% | 72 |
| Martinsville | 183 | $233K | $150 | 15% | 35 |
| Smithville-Sanders | 103 | $231K | $183 | 4% | 69 |
| Brazil | 85 | $167K | $113 | 21% | 27 |
| Cloverdale | 34 | $211K | $139 | 24% | 54 |
| Spencer | 24 | $185K | $152 | 4% | 51 |
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, IN?
24 homes sold in the year to May 2026 at a typical $185K, $152 a square foot.
Is Spencer a buyer’s or seller’s market?
A buyer’s market: 11 homes were for sale in May 2026 and 1 sold, about 11 months of supply. Buyers paid 94.6% of asking on average, and 21% 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 0.7% of a home’s value a year. On a $185K home that’s near $1,310.
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).