Is Spencer, VA 24165 a buyer’s or seller’s market?
Spencer is a balanced market. With about 5.3 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Spencer housing market right now
In the three months ending August 31, 2026, 0% of homes in Spencer, VA 24165 sold above their list price, the typical home went under contract in 91 days and there were 5.3 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 3 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 33%, homes sold more slowly (43 days then) and the median sale price fell 10% to $198,914. Overall, Spencer is less competitive than a year ago, which gives buyers more room.
Within Henry County, homes here sell more slowly than in 67% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Collinsville 24078 (22% sold over asking) and Bassett 24055 (18% sold over asking) are even more competitive.
Run the numbers for 24165
Nearby markets
Axton 24054Seller’s market $58 /sq ftBassett 24055Buyer’s market $123 /sq ftCollinsville 24078Seller’s market $119 /sq ftFieldale 24089Buyer’s market $90 /sq ft Browse all markets →Towns like Spencer nearby
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Questions about Spencer real estate
Is Spencer a buyer’s or seller’s market?
A balanced market: there were 5.3 months of supply in Spencer, VA 24165 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Spencer?
The typical home went under contract in 91 days in the latest three months.
Do homes in Spencer sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 91.0% of the list price.
What are property taxes in Spencer?
About 0.47% of a home’s value a year in Henry County, or roughly $1,880 on a $400,000 home.
What is the median home price in Spencer?
The median sale price was $198,914 in the three months ending August 31, 2026, about $121 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology