Is South Hanover Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, South Hanover Township has remained a Seller's Market.
Key Takeaway
South Hanover Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Hanover Township, PA
How much do homes in South Hanover Township, PA cost?
Median Sold Price
$368,750
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Hanover Township have sold for 27.8% more than they did a year ago.
Summary: The median home sold price in South Hanover Township was $368,750 in May 2024, up 27.8% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $190K | $235K | +23.7% |
| 3 Bedrooms | $252K | $350K | +38.9% |
| 4 Bedrooms | $519.2K | $574.5K | +10.6% |
| 5+ Bedrooms | $561.4K | $755K | +34.5% |
Summary: South Hanover Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.7%, 3 bedroom homes increased by 38.9%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 34.5%.
Median Sold Price Compared To Nearby Cities
| South Hanover Township | $288.5K | $368.7K | +27.8% |
| West Hanover Township | $277.5K | $330.5K | +19.1% |
| Hummelstown | $320K | $350K | +9.4% |
| Derry Township | $330K | $340K | +3.0% |
| Lower Paxton Township | $300K | $295K | -1.6% |
Housing Supply in South Hanover Township, PA
How many homes are available in South Hanover Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 21 | -19.2% |
Summary: The South Hanover Township real estate market had 21 homes for sale in May 2024, a 19.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The South Hanover Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Hanover Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in South Hanover Township in May 2024, down by 50.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for South Hanover Township, PA
How long does it take to sell a home in South Hanover Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 4 Days | 12 Days | +206.3% |
Summary: Homes in South Hanover Township had an average of 12 days on market in May 2024, up by 206.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Hanover Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in South Hanover Township; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
