Is Hanover Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$281,666
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Hanover Park was $281,666 in April 2024, up 2.4% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $151K | $150K | -0.7% |
2 Bedrooms | $191K | $218K | +14.1% |
3 Bedrooms | $265K | $276K | +4.2% |
4 Bedrooms | $325K | $347.5K | +6.9% |
5+ Bedrooms | $351.2K | $375K | +6.8% |
Summary: Hanover Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Cities
Streamwood | $260K | $295K | +13.5% |
Wayne Township | $345K | $375K | +8.7% |
Bartlett | $348K | $375K | +7.8% |
Roselle | $288.4K | $310K | +7.5% |
Hanover Park | $275K | $281.6K | +2.4% |
Housing Supply in Hanover Park, IL
How many homes are available in Hanover Park, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
59 | 78 | +32.2% |
Summary: The Hanover Park real estate market had 78 homes for sale in April 2024, a 32.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 17 | +54.5% |
3 Bedrooms | 36 | 43 | +19.4% |
4 Bedrooms | 10 | 13 | +30.0% |
5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Hanover Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 54.5%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 20 | -9.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Hanover Park in April 2024, down by 9.1% month-over-month. Of the 20 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 17 Days | -38.7% |
Summary: Homes in Hanover Park had an average of 17 days on market in Apr 2024, down by 38.7% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 20 homes were sold in Hanover Park; 85% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.