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
$285,029
$160/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 $285,029 in May 2024, down 5.5% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112.4K | $132.4K | +17.8% |
2 Bedrooms | $205K | $225K | +9.8% |
3 Bedrooms | $275K | $265K | -3.6% |
4 Bedrooms | $391K | $397K | +1.5% |
5+ Bedrooms | $447.5K | $491.1K | +9.8% |
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 17.8%, 2 bedroom homes increased by 9.8%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 9.8%.
Median Sold Price Compared To Nearby Cities
Bethlehem | $305K | $325.5K | +6.7% |
Bethlehem Township | $314.8K | $335.5K | +6.6% |
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 |
---|---|---|
288 | 297 | +3.1% |
Summary: The Hanover Township real estate market had 297 homes for sale in May 2024, a 3.1% 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 | 37 | 32 | -13.5% |
3 Bedrooms | 158 | 168 | +6.3% |
4 Bedrooms | 80 | 78 | -2.5% |
5+ Bedrooms | 13 | 19 | +46.2% |
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 13.5%, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 46.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
62 | 71 | +14.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Summary: A total of 71 homes were sold or pending in Hanover Township in May 2024, up by 14.5% month-over-month. Of the 71 sold homes, 17% were sold under asking, 30% were sold at asking, and 54% 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 |
---|---|---|
19 Days | 21 Days | +11.0% |
Summary: Homes in Hanover Township had an average of 21 days on market in May 2024, up by 11% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 71 homes were sold in Hanover Township; 77% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.