$5,201 Closing Credit*
$438,000
981 SqFt
2 Beds
•2 Full Baths
#73308244, Cathy Hoy, Listing Office: Conway - Hanover
Is Hanover, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
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.
Housing Prices in Hanover, MA
How much do homes in Hanover, MA cost?
Median Sold Price
$766,250
$355/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$51,250(+7.2%)
Key Takeaway
Homes in Hanover have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Hanover was $766,250 in September 2024, up 7.2% from last year, and the median price per square foot was $355.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $655K | $700K | +6.9% |
| 3 Bedrooms | $627.5K | $685K | +9.2% |
| 4 Bedrooms | $852.5K | $940K | +10.3% |
| 5+ Bedrooms | $949.9K | $1.1M | +16.9% |
Summary: Hanover housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 16.9%.
Housing Supply in Hanover, MA
How many homes are available in Hanover, MA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 40 | 35 | -12.5% |
Summary: The Hanover real estate market had 35 homes for sale in September 2024, a 12.5% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 19 | 16 | -15.8% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Hanover housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 17 | 11 | -35.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Hanover in September 2024, down by 35.3% month-over-month. Of the 11 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.
Days on Market for Hanover, MA
How long does it take to sell a home in Hanover, MA?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 26 Days | 26 Days | +1.9% |
Summary: Homes in Hanover had an average of 26 days on market in Sep 2024, up by 1.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hanover are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 11 homes were sold in Hanover; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
