$9,203 Closing Credit*
$775,000
2,150 SqFt
4 Beds
•3 Full Baths
Stephanie Bosanac-Mortimer, Listing Office: RE/MAX MID-MICHIGAN R.E.
Is Hanover Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Hanover Township has remained a Seller's Market.
Key Takeaway
Hanover Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hanover Township, MI
How much do homes in Hanover Township, MI cost?
Median Sold Price
$258,500
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$33,600(+14.9%)
Key Takeaway
Homes in Hanover Township have sold for 14.9% more than they did a year ago.
Summary: The median home sold price in Hanover Township was $258,500 in August 2024, up 14.9% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $173.5K | N/A |
| 2 Bedrooms | $141.2K | $199K | +40.9% |
| 3 Bedrooms | $153K | $283.5K | +85.3% |
| 4 Bedrooms | $272.5K | $361K | +32.5% |
| 5+ Bedrooms | $454K | $245K | -46.0% |
Summary: Hanover Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 40.9%, 3 bedroom homes increased by 85.3%, 4 bedroom homes increased by 32.5%, and 5+ bedroom homes decreased by 46%.
Median Sold Price Compared To Nearby Cities
| Horton | $295K | $360.5K | +22.2% |
| Moscow Township | $182.4K | $215K | +17.8% |
| Hanover Township | $224.9K | $258.5K | +14.9% |
| Hanover | $224.9K | $230K | +2.3% |
| Liberty Township | $340K | $325K | -4.4% |
Housing Supply in Hanover Township, MI
How many homes are available in Hanover Township, MI?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Summary: The Hanover Township real estate market had 16 homes for sale in August 2024, a 6.7% increase compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Hanover Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Hanover Township in August 2024, down by 25.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Hanover Township, MI
How long does it take to sell a home in Hanover Township, MI?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 33 Days | 47 Days | +40.3% |
Summary: Homes in Hanover Township had an average of 47 days on market in Aug 2024, up by 40.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Hanover Township has remained consistent over time.
Summary: During August 2024, 3 homes were sold in Hanover Township; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
