Is Spencer, IN 47460 a buyer’s or seller’s market?
Spencer is a seller’s market. With about 3.8 months of supply and 11% 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.
More competitive than 21% of U.S. ZIP codes, and #291 of 306 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Spencer housing market right now
In the three months ending August 31, 2026, 11% of homes in Spencer, IN 47460 sold above their list price, the typical home went under contract in 54 days and there were 3.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 37 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 4%, homes sold more slowly (37 days then) and the median sale price rose 7% to $299,820. Overall, Spencer is about as competitive as it was a year ago.
On our competition score, Spencer ranks #291 of 306 IN ZIP codes with enough sales (score 26 out of 100).
Nearby, buyers who want less competition could look at Gosport 47433 (0% sold over asking) or Coal City 47427 (0% sold over asking), while Poland 47868 (33% sold over asking) is even more competitive.
Run the numbers for 47460
Nearby markets
Coal City 47427Seller’s market $141 /sq ftFreedom 47431 — /sq ftGosport 47433Seller’s market $157 /sq ftPoland 47868Buyer’s market $169 /sq ft Browse all markets →Towns like Spencer nearby
Find towns like Spencer in other states →Where Spencer is
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Questions about Spencer real estate
Is Spencer a buyer’s or seller’s market?
A seller’s market: there were 3.8 months of supply in Spencer, IN 47460 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 54 days in the latest three months.
Do homes in Spencer sell over asking?
11% of homes sold above their original list price, and the typical sale closed at 96.5% of the list price.
What are property taxes in Spencer?
About 0.66% of a home’s value a year in Owen County, or roughly $2,640 on a $400,000 home.
What is the median home price in Spencer?
The median sale price was $299,820 in the three months ending August 31, 2026, about $172 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