Is Hanover, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since January 2022
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, MN cost?
Median Sold Price
$435,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since January 2022
+$25,550(+6.2%)
Key Takeaway
Homes in Hanover have sold for 6.2% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | Jan 2022 | Jan 2023 | % |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $364.9K | $387.9K | +6.3% |
| 3 Bedrooms | $377K | $421K | +11.7% |
| 4 Bedrooms | $440K | $482.5K | +9.7% |
| 5+ Bedrooms | $440K | $465K | +5.7% |
Median Sold Price Compared To Nearby Cities
| Greenfield | $510K | $675K | +32.4% |
| Hassan Township | $516.8K | $570K | +10.3% |
| Hanover | $409.4K | $435K | +6.2% |
| Saint Michael | $409.9K | $430K | +4.9% |
| Rockford Township | $451.2K | $414.9K | -8.1% |
How many homes are available in Hanover, MN?
Number of Homes For Sale
| Dec 2022 | Jan 2023 | % |
|---|---|---|
| 20 | 20 | 0.0% |
Homes For Sale By Bedroom Count
| # BEDS | Dec 2022 | Jan 2023 | % |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Number of Homes Sold
| Dec 2022 | Jan 2023 | % |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Average Sale Time
| Jan 2022 | Jan 2023 | % |
|---|---|---|
| 10 Days | 77 Days | +638.1% |
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Hanover are taking a long time to sell, it's a good idea to negotiate on homes here.
