Is Hanover Township, PA 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, Hanover Township has remained a Seller's Market.
Key Takeaway
Hanover Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hanover Township, PA
How much do homes in Hanover Township, PA cost?
Median Sold Price
$285,002
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Hanover Township have sold for 9.8% less than they did a year ago.
Summary: The median home sold price in Hanover Township was $285,002 in April 2024, down 9.8% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112.4K | $132.4K | +17.8% |
| 2 Bedrooms | $217.5K | $220.7K | +1.5% |
| 3 Bedrooms | $275.2K | $267K | -3.0% |
| 4 Bedrooms | $400K | $393.5K | -1.6% |
| 5+ Bedrooms | $459.9K | $440K | -4.3% |
Summary: Hanover Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.8%, 2 bedroom homes increased by 1.5%, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Bethlehem | $266.1K | $325.5K | +22.3% |
| Hanover Township | $259.9K | $273K | +5.0% |
| East Allen Township | $370K | $359.9K | -2.7% |
| Bethlehem Township | $353K | $336.2K | -4.8% |
| Hanover Township | $315.8K | $285K | -9.8% |
Housing Supply in Hanover Township, PA
How many homes are available in Hanover Township, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 266 | 279 | +4.9% |
Summary: The Hanover Township real estate market had 279 homes for sale in April 2024, a 4.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 35 | 38 | +8.6% |
| 3 Bedrooms | 151 | 153 | +1.3% |
| 4 Bedrooms | 64 | 74 | +15.6% |
| 5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The Hanover Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 | 58 | -18.3% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover Township, you may be able to get a good deal. 37.9% of homes here sold below asking price last month.
Summary: A total of 58 homes were sold or pending in Hanover Township in April 2024, down by 18.3% month-over-month. Of the 58 sold homes, 38% were sold under asking, 33% were sold at asking, and 29% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 43 Days | 24 Days | -44.5% |
Summary: Homes in Hanover Township had an average of 24 days on market in Apr 2024, down by 44.5% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 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 April 2024, 58 homes were sold in Hanover Township; 81% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
