Is East Hanover, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, East Hanover has remained a Seller's Market.
Key Takeaway
East Hanover is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Hanover, NJ
How much do homes in East Hanover, NJ cost?
Median Sold Price
$675,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in East Hanover have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in East Hanover was $675,000 in April 2024, up 7.8% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $89K | $136.5K | +53.4% |
| 2 Bedrooms | $480K | $427.5K | -10.9% |
| 3 Bedrooms | $610K | $630K | +3.3% |
| 4 Bedrooms | $718.1K | $815.1K | +13.5% |
| 5+ Bedrooms | $990K | $985K | -0.5% |
Summary: East Hanover housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.4%, 2 bedroom homes decreased by 10.9%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes decreased by 0.5%.
Median Sold Price Compared To Nearby Cities
| Livingston Township | $809K | $978.3K | +20.9% |
| Livingston | $809.5K | $978.3K | +20.9% |
| Hanover Township | $562.5K | $613.7K | +9.1% |
| East Hanover | $626K | $675K | +7.8% |
| East Hanover Township | $626K | $675K | +7.8% |
Housing Supply in East Hanover, NJ
How many homes are available in East Hanover, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 33 | 38 | +15.2% |
Summary: The East Hanover real estate market had 38 homes for sale in April 2024, a 15.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The East Hanover housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Hanover, you could pay more than the asking price. 70% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in East Hanover in April 2024, up by 66.7% month-over-month. Of the 10 sold homes, 20% were sold under asking, 10% were sold at asking, and 70% were sold over asking.
Days on Market for East Hanover, NJ
How long does it take to sell a home in East Hanover, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East Hanover are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in East Hanover; 10% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.