Is Hanover Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Hanover Township was a Seller's Market.
Key Takeaway
Hanover Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Hanover Township, PA
How much do homes in Hanover Township, PA cost?
Median Sold Price
$269,948
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Hanover Township have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Hanover Township was $269,948 in March 2024, up 3.8% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $129.9K | -16.1% |
| 2 Bedrooms | $179.9K | $200.5K | +11.5% |
| 3 Bedrooms | $245K | $255K | +4.1% |
| 4 Bedrooms | $313K | $359.9K | +15.0% |
| 5+ Bedrooms | $377K | $435K | +15.4% |
Summary: Hanover Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.1%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 15.4%.
Median Sold Price Compared To Nearby Cities
| Catasauqua | $209.9K | $251.2K | +19.7% |
| Whitehall Township | $293.3K | $309.5K | +5.5% |
| Whitehall | $295K | $309.5K | +4.9% |
| Hanover Township | $260K | $269.9K | +3.8% |
| Hanover Township | $345K | $283.4K | -17.8% |
Housing Supply in Hanover Township, PA
How many homes are available in Hanover Township, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 300 | 316 | +5.3% |
Summary: The Hanover Township real estate market had 316 homes for sale in March 2024, a 5.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 27 | 35 | +29.6% |
| 3 Bedrooms | 174 | 180 | +3.4% |
| 4 Bedrooms | 75 | 83 | +10.7% |
| 5+ Bedrooms | 23 | 17 | -26.1% |
Summary: The Hanover Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 29.6%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 26.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 51 | 51 | 0.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover Township, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.
Summary: A total of 51 homes were sold or pending in Hanover Township in March 2024, the same as the previous month. Of the 51 sold homes, 20% were sold under asking, 39% were sold at asking, and 41% were sold over asking.
Days on Market for Hanover Township, PA
How long does it take to sell a home in Hanover Township, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 38 Days | -24.3% |
Summary: Homes in Hanover Township had an average of 38 days on market in Mar 2024, down by 24.3% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hanover Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 51 homes were sold in Hanover Township; 59% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
