Is Hanover Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$300,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Hanover Township was $300,000 in March 2024, up 8.5% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $148.9K | $156K | +4.8% |
2 Bedrooms | $215.2K | $250K | +16.1% |
3 Bedrooms | $285K | $305K | +7.0% |
4 Bedrooms | $393.2K | $428K | +8.9% |
5+ Bedrooms | $510K | $580K | +13.7% |
Summary: Hanover Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 13.7%.
Median Sold Price Compared To Nearby Cities
Streamwood | $260K | $290.6K | +11.8% |
Hoffman Estates | $327K | $355K | +8.6% |
Hanover Township | $276.4K | $300K | +8.5% |
Hanover Park | $268.4K | $289K | +7.7% |
Bartlett | $349.9K | $370K | +5.7% |
Housing Supply in Hanover Township, IL
How many homes are available in Hanover Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
190 | 221 | +16.3% |
Summary: The Hanover Township real estate market had 221 homes for sale in March 2024, a 16.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 49 | 72 | +46.9% |
3 Bedrooms | 84 | 89 | +6.0% |
4 Bedrooms | 44 | 44 | 0.0% |
5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The Hanover Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 46.9%, 3 bedroom homes increased by 6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
70 | 62 | -11.4% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 62 homes were sold or pending in Hanover Township in March 2024, down by 11.4% month-over-month. Of the 62 sold homes, 26% were sold under asking, 23% were sold at asking, and 52% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
29 Days | 23 Days | -21.6% |
Summary: Homes in Hanover Township had an average of 23 days on market in Mar 2024, down by 21.6% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 62 homes were sold in Hanover Township; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.