Is New Hanover Township, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Hanover Township is a seller's market

Buyer's
Market

Difference Since January 2023

Since last year, New Hanover Township has remained a Seller's Market.

Key Takeaway

New Hanover Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in New Hanover Township, PA

How much do homes in New Hanover Township, PA cost?

Median Sold Price

$439,500

$198/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$5,500(-1.2%)

Key Takeaway

Homes in New Hanover Township have sold for 1.2% less than they did a year ago.

Summary: The median home sold price in New Hanover Township was $439,500 in January 2024, down 1.2% from last year, and the median price per square foot was $198.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 -$59.9K
N/A
2 $270.5K$328.1K
+21.3%
3 $399K$375K
-6.0%
4 $495K$517.5K
+4.5%
5+ $530K$582.5K
+9.9%

Summary: New Hanover Township housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.3%, 3 bedroom homes decreased by 6%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 9.9%.

Median Sold Price Compared To Nearby Cities

New Hanover Township
-1.2%
Gilbertsville
-2.4%

Housing Supply in New Hanover Township, PA

How many homes are available in New Hanover Township, PA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
3032+6.7%

Summary: The New Hanover Township real estate market had 32 homes for sale in January 2024, a 6.7% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 10
-100.0%
2 12
+100.0%
3 1418
+28.6%
4 1110
-9.1%
5+ 32
-33.3%

Summary: The New Hanover Township housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
57+40.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Hanover Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in New Hanover Township in January 2024, up by 40.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.

Days on Market for New Hanover Township, PA

How long does it take to sell a home in New Hanover Township, PA?

Average Sale Time

Jan 2023Jan 2024CHANGE
57 Days44 Days-23.2%

Summary: Homes in New Hanover Township had an average of 44 days on market in Jan 2024, down by 23.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in New Hanover Township has remained consistent over time.

Summary: During January 2024, 7 homes were sold in New Hanover Township; 29% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 26 Days Ago

Newest Listings in New Hanover Township, PA

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What housing markets are near New Hanover Township, PA?