Is Hanover, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hanover is a seller's market

Buyer's
Market

Difference Since July 2021

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

Key Takeaway

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

How much do homes in Hanover, MA cost?

Median Sold Price

$692,000

$322/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$92,000(+15.3%)

Key Takeaway

Homes in Hanover have sold for 15.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $509.2K$225K
-55.8%
2 $465K$556.2K
+19.6%
3 $528.7K$599.5K
+13.4%
4 $735K$882K
+20.0%
5+ $789.7K$984.5K
+24.7%

Median Sold Price Compared To Nearby Cities

Norwell
+15.6%
Hanover
+15.3%
Rockland
+14.5%
Hanson
+12.9%
Pembroke
+6.4%

How many homes are available in Hanover, MA?

Number of Homes For Sale

Jun 2022Jul 2022%
6362-1.6%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 00
0.0%
2 55
0.0%
3 2524
-4.0%
4 2525
0.0%
5+ 88
0.0%

Number of Homes Sold

Jun 2022Jul 2022%
1823+27.8%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hanover, you could pay more than the asking price. 73.9% of homes here sold above asking price last month.

Average Sale Time

Jul 2021Jul 2022%
21 Days18 Days-17.6%

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

2 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 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, MA

Number of homes for sale in Hanover, MA real estate market have reached 62. Between June 2022 and July 2022, Hanover, MA real estate market has seen decrease in the number of listings by 1.6%. While the average time on the market in July 2022 was 18 days, the median list price was $692,000. From June 2022 through July 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 55.8% more cheaper, the cost of 2 bedrooms properties went up by 19.6%, 3 bedrooms properties prices increased by 13.4%, prices of 4 bedrooms properties went up by 20%, prices of 5 bedrooms properties increased by 24.7%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes did not move, the quantity of 2 bedrooms homes have not changed, number of 3 bedrooms homes decreased by 4%, the quantity of 4 bedrooms homes have not changed, 5 bedrooms homes did not move. While more than 17 listings in Hanover, MA in July 2022 were sold above asking price, there were more than 1 listings sold at asking price, and more than 5 were sold below.

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