Spencer, IA
Monthly housing intelligence, market trends, and trusted local expertise.
As of the latest 2026 data
Median Listing
Pending Ratio
Active Inventory
Median DOM
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The Spencer market is currently Accelerated, with a pending ratio of 0.62 indicating robust demand relative to available inventory. New listings doubled year-over-year, yet active listings still show significant year-over-year expansion, suggesting that while new supply is entering the market, it is being absorbed at a considerable rate.
Local Market Signals
Source: FRED (St. Louis Fed)Local economic trends can influence how quickly homes sell and how much competition sellers may face.
What's moving the Spencer market right now.
Median listing prices observed a substantial 25.5% month-over-month increase, despite a 3.6% decline year-over-year. Active listings have grown 44.4% over the past year, while new listings surged 100.0% year-over-year. The median days on market decreased by 43.4% year-over-year, reflecting a quicker absorption of inventory. The pending ratio has declined by 10.7% year-over-year, even as demand remains strong quarter-over-quarter.
Market Trends
Median Price
Active Inventory
Days on Market
Sold Score™
Sold Score™ Over Time
Market liquidity index • 36 months
Price & Days on Market
Median listing vs market velocity
Inventory Dynamics
Total active listings vs new monthly supply
Sourced from Realtor.com RDC Inventory Core Metrics, supplemented by the Primpted research desk. Updated As of the latest 2026 data.
Market Signals & Indicators
The rapid reduction in median days on market, coupled with a pending ratio of 0.62, suggests that properties are moving quickly once listed. This environment generally favors more disciplined pricing, as buyers are likely to face competition, particularly for well-positioned properties. Inventory levels, while expanded year-over-year, are actively being rebalanced by sustained buyer interest.
Average listing prices saw a 22.8% year-over-year decline, outpacing the 3.6% year-over-year decrease in median listing price. Median price per square foot also contracted by 18.5% year-over-year, which may indicate some recalibration within the higher price tiers of the market. However, the average-to-median price spread is relatively contained.
52 active listings represent the current floor, with new supply arriving at roughly 24 per month.
of active listings carry a price reduction, +2.7% from prior period.
Median price per square foot has moved -18.5% year-over-year.
Pending-to-active ratio — Accelerated.
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Metro Demographics
ZIPs in Spencer, IA
51360
spirit lake
$729K
59 active · 48 DOM
51331
arnolds park
$599K
56 active · 77 DOM
51355
okoboji
$315K
46 active · 127 DOM
51301
spencer
$237K
42 active · 37 DOM
51351
milford
$1.30M
25 active · 40 DOM
51346
hartley
$134K
15 active · 38 DOM
51334
estherville
$240K
13 active · 148 DOM
51347
lake park
$320K
10 active · 45 DOM
51358
ruthven
$107K
9 active · 122 DOM
51365
wallingford
$445K
3 active · 81 DOM
51364
terril
$69K
2 active · 37 DOM
51340
fostoria
$171K
2 active · 56 DOM
51366
webb
$118K
2 active · 29 DOM
51338
everly
$122K
2 active · 23 DOM
51341
gillett grove
$260K
1 active · 15 DOM
51354
ocheyedan
$628K
1 active · 9 DOM
51345
harris
$540K
1 active · 101 DOM
51350
melvin
$128K
1 active · 4 DOM
Sorted by active inventory · click a ZIP for its full report