Is Hanover, MN 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 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

# BEDSJan 2022Jan 2023%
1 --
N/A
2 $364.9K$387.9K
+6.3%
3 $377K$421K
+11.7%
4 $440K$482.5K
+9.7%
5+ $440K$465K
+5.7%

Median Sold Price Compared To Nearby Cities

Greenfield
+32.4%
Hassan Township
+10.3%
Hanover
+6.2%
Saint Michael
+4.9%
Rockford Township
-8.1%

How many homes are available in Hanover, MN?

Number of Homes For Sale

Dec 2022Jan 2023%
20200.0%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 00
0.0%
2 44
0.0%
3 23
+50.0%
4 97
-22.2%
5+ 56
+20.0%

Number of Homes Sold

Dec 2022Jan 2023%
24+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

Asking vs Sold - buyer

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 2022Jan 2023%
10 Days77 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

Breakdown of Home Sale Times

Key Takeaway

Most homes in Hanover are taking a long time to sell, it's a good idea to negotiate on homes here.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Hanover, MN

Hanover, MN has 20 homes for sale to choose from. While the average time on the market in January 2023 was 77 days, the median list price was $435,000. This housing market listing prices have changed between December 2022 and January 2023: prices of 1 bedroom properties increased by 0%, prices of 2 bedrooms properties increased by 6.3%, the cost of 3 bedrooms properties went up by 11.7%, 4 bedrooms properties became 9.7% more expensive, prices of 5 bedrooms properties went up by 5.7%. Volume of homes for sale changed: volume of 1 bedroom homes stayed the same, number of 2 bedrooms homes remained the same, 3 bedrooms homes became 50% more available, 4 bedrooms homes became 22.2% less available, volume of 5 bedrooms homes went up by 20%. Hanover, MN housing market in January 2023 saw over 2 listings sold above listed price, more than 0 sold at listed price and over 2 sold below.

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