Is Spencerville, IN 46788 a buyer’s or seller’s market?
Spencerville is a seller’s market. With about 2.4 months of supply and 25% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Spencerville housing market right now
In the three months ending August 31, 2026, 25% of homes in Spencerville, IN 46788 sold above their list price, the typical home went under contract in 45 days and there were 2.4 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 4 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 0%, homes sold more slowly (8 days then) and the median sale price fell 23% to $472,795. Overall, Spencerville is more competitive than a year ago, so tougher for buyers.
Within DeKalb County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.
Nearby, Saint Joe 46785 (100% sold over asking) and Ashley 46705 (60% sold over asking) are even more competitive.
Run the numbers for 46788
Nearby markets
Ashley 46705Seller’s market $131 /sq ftAuburn 46706Seller’s market $162 /sq ftButler 46721Buyer’s market $124 /sq ftCorunna 46730 — /sq ft Browse all markets →Towns like Spencerville nearby
Find towns like Spencerville in other states →Where Spencerville is
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Questions about Spencerville real estate
Is Spencerville a buyer’s or seller’s market?
A seller’s market: there were 2.4 months of supply in Spencerville, IN 46788 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 Spencerville?
The typical home went under contract in 45 days in the latest three months.
Do homes in Spencerville sell over asking?
25% of homes sold above their original list price, and the typical sale closed at 96.4% of the list price.
What are property taxes in Spencerville?
About 0.62% of a home’s value a year in DeKalb County, or roughly $2,480 on a $400,000 home.
What is the median home price in Spencerville?
The median sale price was $472,795 in the three months ending August 31, 2026, about $187 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