Is Hanover, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Hanover has remained a Seller's Market.
Housing Prices in Hanover, NY
How much do homes in Hanover, NY cost?
Median Sold Price
$160,000
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Hanover was $160,000 in February 2024, up 0.1% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $250K | - | N/A |
2 Bedrooms | $159.9K | $60K | -62.5% |
3 Bedrooms | $153K | $185K | +20.9% |
4 Bedrooms | $195K | $150K | -23.1% |
5+ Bedrooms | $252.5K | $185K | -26.7% |
Summary: Hanover housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 62.5%, 3 bedroom homes increased by 20.9%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes decreased by 26.7%.
Median Sold Price Compared To Nearby Cities
Silver Creek | $151.5K | $160K | +5.6% |
Hanover | $159.9K | $160K | 0.1% |
Forestville | $175K | $155K | -11.4% |
Housing Supply in Hanover, NY
How many homes are available in Hanover, NY?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
16 | 16 | 0.0% |
Summary: The Hanover real estate market had 16 homes for sale in February 2024, the same as January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 7 | 5 | -28.6% |
4 Bedrooms | 4 | 6 | +50.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Hanover housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 28.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Hanover in February 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Hanover, NY
How long does it take to sell a home in Hanover, NY?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
69 Days | 16 Days | -76.8% |
Summary: Homes in Hanover had an average of 16 days on market in Feb 2024, down by 76.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 4 homes were sold in Hanover; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.