Is Hanover Township, 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 Township has remained a Seller's Market.
Housing Prices in Hanover Township, IL
How much do homes in Hanover Township, IL cost?
Median Sold Price
$305,936
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Hanover Township was $305,936 in June 2024, up 10.8% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $154K | $165K | +7.1% |
2 Bedrooms | $221K | $255.7K | +15.7% |
3 Bedrooms | $287.5K | $310K | +7.8% |
4 Bedrooms | $393K | $430K | +9.4% |
5+ Bedrooms | $500K | $572.8K | +14.6% |
Summary: Hanover Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 15.7%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 14.6%.
Median Sold Price Compared To Nearby Cities
Streamwood | $265K | $295K | +11.3% |
Hanover Township | $276.1K | $305.9K | +10.8% |
Hanover Park | $270K | $295.2K | +9.4% |
Hoffman Estates | $330K | $355K | +7.6% |
Bartlett | $350.5K | $372.3K | +6.2% |
Housing Supply in Hanover Township, IL
How many homes are available in Hanover Township, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
294 | 313 | +6.5% |
Summary: The Hanover Township real estate market had 313 homes for sale in June 2024, a 6.5% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 6 | -14.3% |
2 Bedrooms | 90 | 85 | -5.6% |
3 Bedrooms | 104 | 118 | +13.5% |
4 Bedrooms | 70 | 83 | +18.6% |
5+ Bedrooms | 23 | 21 | -8.7% |
Summary: The Hanover Township housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes decreased by 8.7%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
105 | 92 | -12.4% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
58 Homes Were Sold
Over Asking
Summary: A total of 92 homes were sold or pending in Hanover Township in June 2024, down by 12.4% month-over-month. Of the 92 sold homes, 25% were sold under asking, 12% were sold at asking, and 63% were sold over asking.
Days on Market for Hanover Township, IL
How long does it take to sell a home in Hanover Township, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
22 Days | 9 Days | -57.5% |
Summary: Homes in Hanover Township had an average of 9 days on market in Jun 2024, down by 57.5% compared to last year.
Breakdown of Home Sale Times
83 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 92 homes were sold in Hanover Township; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.