Is Hanover Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hanover Park is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Hanover Park has remained a Seller's Market.

Key Takeaway

Hanover Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Hanover Park, IL cost?

Median Sold Price

$260,000

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$22,125(+9.3%)

Key Takeaway

Homes in Hanover Park have sold for 9.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $124.9K$151K
+20.8%
2 $156.5K$180K
+15.0%
3 $235K$255.3K
+8.7%
4 $285K$315K
+10.5%
5+ $302K$337.5K
+11.8%

Median Sold Price Compared To Nearby Cities

Bartlett
+10.7%
Hanover Park
+9.3%
Wayne Township
+6.3%
Streamwood
+6.2%
Roselle
+3.3%

How many homes are available in Hanover Park, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
106103-2.8%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 11
0.0%
2 2114
-33.3%
3 5657
+1.8%
4 2225
+13.6%
5+ 66
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
3229-9.4%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hanover Park, you could pay more than the asking price. 44.8% of homes here sold above asking price last month.

Average Sale Time

Nov 2021Nov 2022%
17 Days15 Days-7.1%

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Hanover Park are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Hanover Park, IL

Hanover Park, IL has 103 homes for sale to choose from. In November 2022 in Hanover Park, IL there were 2.8% less homes for sale than in October 2022. In November 2022, listings were on the market for 15 days. During the same period, the median list price in this real estate market was $260,000. Real estate listing prices changed between October 2022 and November 2022: prices of 1 bedroom properties increased by 20.8%, 2 bedrooms properties prices increased by 15%, prices of 3 bedrooms properties went up by 8.7%, 4 bedrooms properties became 10.5% more expensive, 5 bedrooms properties became 11.8% more expensive. This housing market inventory have changed: volume of 1 bedroom homes stayed the same, the quantity of 2 bedrooms homes went down by 33.3%, volume of 3 bedrooms homes went up by 1.8%, the quantity of 4 bedrooms homes went up by 13.6%, 5 bedrooms homes did not move. In November 2022 more than 13 listings in Hanover Park, IL were sold above the asking price. During the same period more than 4 listings were sold at asking price, while more than 12 were sold below.

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