Is East Hanover Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, East Hanover Township has remained a Seller's Market.
Housing Prices in East Hanover Township, NJ
How much do homes in East Hanover Township, NJ cost?
Median Sold Price
$732,500
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in East Hanover Township was $732,500 in May 2024, up 17.4% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $89.5K | $140K | +56.4% |
2 Bedrooms | $502.5K | $440K | -12.4% |
3 Bedrooms | $610K | $630K | +3.3% |
4 Bedrooms | $718.1K | $819K | +14.0% |
5+ Bedrooms | $990K | $985K | -0.5% |
Summary: East Hanover Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 56.4%, 2 bedroom homes decreased by 12.4%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 14%, and 5+ bedroom homes decreased by 0.5%.
Median Sold Price Compared To Nearby Cities
Livingston Township | $795K | $980.6K | +23.4% |
East Hanover Township | $624K | $732.5K | +17.4% |
East Hanover | $624K | $732.5K | +17.4% |
Whippany | $567.5K | $630K | +11.0% |
Hanover Township | $570K | $620K | +8.8% |
Housing Supply in East Hanover Township, NJ
How many homes are available in East Hanover Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
35 | 39 | +11.4% |
Summary: The East Hanover Township real estate market had 39 homes for sale in May 2024, a 11.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 3 | -25.0% |
3 Bedrooms | 9 | 10 | +11.1% |
4 Bedrooms | 15 | 17 | +13.3% |
5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The East Hanover Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 11 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in East Hanover Township in May 2024, the same as the previous month. Of the 11 sold homes, 27% were sold under asking, 0% were sold at asking, and 73% were sold over asking.
Days on Market for East Hanover Township, NJ
We’re sorry, we don't have information for this market at the moment