Is 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, Hanover Township has remained a Seller's Market.
Housing Prices in Hanover Township, PA
How much do homes in Hanover Township, PA cost?
Median Sold Price
$270,140
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Hanover Township was $270,140 in May 2024, up 3.9% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112.4K | $129.9K | +15.6% |
2 Bedrooms | $175K | $205K | +17.1% |
3 Bedrooms | $249.9K | $256.5K | +2.7% |
4 Bedrooms | $348.9K | $361.2K | +3.5% |
5+ Bedrooms | $414.4K | $420K | +1.3% |
Summary: Hanover Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 1.3%.
Median Sold Price Compared To Nearby Cities
Whitehall Township | $300K | $315K | +5.0% |
Whitehall | $300K | $315K | +5.0% |
Catasauqua | $250K | $260K | +4.0% |
Hanover Township | $260K | $270.1K | +3.9% |
Hanover Township | $301.4K | $285K | -5.5% |
Housing Supply in Hanover Township, PA
How many homes are available in Hanover Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
262 | 269 | +2.7% |
Summary: The Hanover Township real estate market had 269 homes for sale in May 2024, a 2.7% increase 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 | 31 | 28 | -9.7% |
3 Bedrooms | 150 | 157 | +4.7% |
4 Bedrooms | 69 | 66 | -4.3% |
5+ Bedrooms | 12 | 18 | +50.0% |
Summary: The 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 9.7%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
53 | 61 | +15.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 61 homes were sold or pending in Hanover Township in May 2024, up by 15.1% month-over-month. Of the 61 sold homes, 18% were sold under asking, 34% were sold at asking, and 48% were sold over asking.
Days on Market for Hanover Township, PA
How long does it take to sell a home in Hanover Township, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 22 Days | +36.7% |
Summary: Homes in Hanover Township had an average of 22 days on market in May 2024, up by 36.7% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 61 homes were sold in Hanover Township; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.