Is Spencer, SD 57374 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Spencer is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list0%Share of sales, last 3 months

Median sale-to-list91.4%Sold price ÷ list price

Median days on market135Listing to accepted offer

Median price per sq ft$149

The Spencer housing market right now

In the three months ending August 31, 2026, 0% of homes in Spencer, SD 57374 sold above their list price and the typical home went under contract in 135 days. With only 1 sale, these figures can swing a lot from month to month.

Within McCook County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.

About the area

McCook County, SD

Population	272
Median income	$79,167
Average income	$101,363
Median home value	$215,300
Median rent	$440/month
Owner-occupied	92% of homes
Median year built	1966

Natural hazard riskTornadoes (very high), winter storms (very high), hail (very high)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 57374; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 57374

Prefilled for 57374Can I win this house?Multiple-offer likelihood for a listing Prefilled for 57374Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Bridgewater 57319Buyer’s market $102 /sq ft Canistota 57012Buyer’s market $199 /sq ft Monroe 57047Seller’s market $64 /sq ft Montrose 57048Seller’s market $172 /sq ft Browse all markets →

Where Spencer is

Loading map…

Questions about Spencer real estate

How fast do homes sell in Spencer?

The typical home went under contract in 135 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 91.4% of the list price.

What are property taxes in Spencer?

About 1.06% of a home’s value a year in McCook County, or roughly $4,240 on a $400,000 home.

What is the median home price in Spencer?

The median sale price was $104,955 in the three months ending August 31, 2026, about $149 per square foot.

Local agents

See all agents in 57374 →

No sponsored agents in 57374 yet. Are you an agent here? Put your name in front of local buyers.

Save this ZIP (free account)

More tools for 57374

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value McCook County property taxes McCook County loan limits Closing costs in South Dakota Hottest ZIP codes in South Dakota

Add this to your website

Free to use. Paste this code where you want the live widget to appear. It updates automatically. More widgets

JavaScript (recommended) iframe only

<div class="offerbacked-widget" data-widget="zip" data-zip="57374"><a href="https://offerbacked.com/market/57374">Spencer, SD 57374 housing market data from OfferBacked</a></div>
<script async src="https://offerbacked.com/widget.js"></script>

Sizes itself to fit. If your site builder removes scripts, use “iframe only”.

Preview Dark version

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology