Is Spencerville, OH 45887 a buyer’s or seller’s market?

The Spencerville housing market right now

In the three months ending August 31, 2026, 29% of homes in Spencerville, OH 45887 sold above their list price, the typical home went under contract in 68 days and there were 5.5 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 7 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking rose from 17%, homes sold faster (94 days then) and the median sale price fell 25% to $184,920. Overall, Spencerville is more competitive than a year ago, so tougher for buyers.

Within Allen County, homes here sell more slowly than in 78% of the county’s ZIP codes, and sell more often over asking than in 78%.

Nearby, buyers who want less competition could look at Lafayette 45854 (0% sold over asking) or Lima 45806 (15% sold over asking), while Lima 45801 (33% sold over asking) and Harrod 45850 (33% sold over asking) are even more competitive.