Is Hanover Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Hanover Park has remained a Seller's Market.
Housing Prices in Hanover Park, IL
How much do homes in Hanover Park, IL cost?
Median Sold Price
$295,250
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Hanover Park was $295,250 in June 2024, up 9.4% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150K | $150K | 0.0% |
2 Bedrooms | $195.5K | $225K | +15.1% |
3 Bedrooms | $265.7K | $295K | +11.0% |
4 Bedrooms | $330K | $347.5K | +5.3% |
5+ Bedrooms | $361.2K | $375K | +3.8% |
Summary: Hanover Park housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 3.8%.
Median Sold Price Compared To Nearby Cities
Streamwood | $265K | $295K | +11.3% |
Roselle | $291K | $322.6K | +10.9% |
Wayne Township | $348.7K | $386.4K | +10.8% |
Hanover Park | $270K | $295.2K | +9.4% |
Bartlett | $350.5K | $372.3K | +6.2% |
Housing Supply in Hanover Park, IL
How many homes are available in Hanover Park, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
82 | 93 | +13.4% |
Summary: The Hanover Park real estate market had 93 homes for sale in June 2024, a 13.4% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 14 | 20 | +42.9% |
3 Bedrooms | 45 | 50 | +11.1% |
4 Bedrooms | 17 | 20 | +17.6% |
5+ Bedrooms | 6 | 3 | -50.0% |
Summary: The Hanover Park housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
30 | 23 | -23.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Hanover Park in June 2024, down by 23.3% month-over-month. Of the 23 sold homes, 17% were sold under asking, 9% were sold at asking, and 74% were sold over asking.
Days on Market for Hanover Park, IL
How long does it take to sell a home in Hanover Park, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
18 Days | 16 Days | -9.3% |
Summary: Homes in Hanover Park had an average of 16 days on market in Jun 2024, down by 9.3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 23 homes were sold in Hanover Park; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.