Home Values

Spencer Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$160,900

  • 6.1% 1-year change
  • 2.1% 1-year forecast

The median home value in Spencer is $160,900. Spencer home values have gone up 6.1% over the past year and Zillow predicts they will rise 2.1% within the next year. The median price of homes currently listed in Spencer is $168,500.

Foreclosures will be a factor impacting home values in the next several years. In Spencer 22.2 homes are foreclosed (per 10,000). This is greater than the Cleveland Metro value of 5.1 and also greater than the national value of 4.5

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Spencer is 10.7%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Spencer homeowners underwater on their mortgage is 10.5%, which is lower than Cleveland Metro at 20.8%.

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Relative ZHVI
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Spencer Market Overview

Data through Oct 31, 2014
  • $160,900 ZHVI
  • 2.1% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $168,500 Median listing price
  • No data Median sale price
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Spencer Market Health

Data through Oct 31, 2014
  • 2.3/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 10.5% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 10.7% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

22.2 homes Spencer
5.1 homes Cleveland Metro
4.5 homes United States
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Nearby Cities

Name Median ZHVI
Valley City $225,300
Litchfield $179,700
Burbank $151,900
Name Median ZHVI
Lagrange $142,600
Grafton $141,700
Lodi $134,600
Name Median ZHVI
Creston $127,800
Oberlin $116,200
Wellington $105,900

Listings & Sales

Data through Oct 31, 2014
  • $107 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 54.5% Listings with price cut
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Spencer Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $1,324 Spencer
    $1,154 Cleveland Metro
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.6 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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