Is Spencer, TN 38585 a buyer’s or seller’s market?
Spencer is a buyer’s market. With about 9.3 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Spencer housing market right now
In the three months ending August 31, 2026, 10% of homes in Spencer, TN 38585 sold above their list price, the typical home went under contract in 83 days and there were 9.3 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 10 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold more slowly (77 days then) and the median sale price rose 55% to $279,879. Overall, Spencer is more competitive than a year ago, so tougher for buyers.
Run the numbers for 38585
Towns like Spencer nearby
Find towns like Spencer in other states →Where Spencer is
Loading map…
Questions about Spencer real estate
Is Spencer a buyer’s or seller’s market?
A buyer’s market: there were 9.3 months of supply in Spencer, TN 38585 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 83 days in the latest three months.
Do homes in Spencer sell over asking?
10% of homes sold above their original list price, and the typical sale closed at 94.3% of the list price.
What are property taxes in Spencer?
About 0.44% of a home’s value a year in Van Buren County, or roughly $1,760 on a $400,000 home.
What is the median home price in Spencer?
The median sale price was $279,879 in the three months ending August 31, 2026, about $123 per square foot.
Local agents
See all agents in 38585 →No sponsored agents in 38585 yet. Are you an agent here? Put your name in front of local buyers.
More tools for 38585
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology