$10,000 Closing Credit*
$1,310,000
4 Beds
•2 Full Baths, 1 Partial
Gloria M. LaForgia, Listing Office: Weichert Realtors, Morris Plains
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 August 2023
Since last year, East Hanover Township has remained a Seller's Market.
Key Takeaway
East Hanover Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Hanover Township, NJ
How much do homes in East Hanover Township, NJ cost?
Median Sold Price
$741,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$114,000(+18.2%)
Key Takeaway
Homes in East Hanover Township have sold for 18.2% more than they did a year ago.
Summary: The median home sold price in East Hanover Township was $741,000 in August 2024, up 18.2% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $332.5K | +269.4% |
| 2 Bedrooms | $445K | $407.5K | -8.4% |
| 3 Bedrooms | $610K | $630K | +3.3% |
| 4 Bedrooms | $700K | $850K | +21.4% |
| 5+ Bedrooms | $970K | $998K | +2.9% |
Summary: East Hanover Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 269.4%, 2 bedroom homes decreased by 8.4%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 2.9%.
Median Sold Price Compared To Nearby Cities
| East Hanover Township | $627K | $741K | +18.2% |
| East Hanover | $627K | $741K | +18.2% |
| Livingston Township | $850K | $998.9K | +17.5% |
| Hanover Township | $561K | $630K | +12.3% |
| Whippany | $600K | $625K | +4.2% |
Housing Supply in East Hanover Township, NJ
How many homes are available in East Hanover Township, NJ?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 35 | 33 | -5.7% |
Summary: The East Hanover Township real estate market had 33 homes for sale in August 2024, a 5.7% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 14 | 15 | +7.1% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The East Hanover Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Hanover Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in East Hanover Township in August 2024, up by 33.3% month-over-month. Of the 12 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% 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
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