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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Upper Hanover Township is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Upper Hanover Township was a Buyer's Market.

Key Takeaway

Upper 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 Upper Hanover Township, PA

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

Median Sold Price

$462,500

$189/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$27,500(+6.3%)

Key Takeaway

Homes in Upper Hanover Township have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in Upper Hanover Township was $462,500 in March 2024, up 6.3% from last year, and the median price per square foot was $189.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $235K$430K
+83.0%
3 $350K$360K
+2.9%
4 $480K$577.5K
+20.3%
5+ $557.5K$765K
+37.2%

Summary: Upper Hanover Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 83%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 37.2%.

Median Sold Price Compared To Nearby Cities

Pennsburg
+24.7%
Upper Hanover Township
+6.3%

Housing Supply in Upper Hanover Township, PA

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

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
31310.0%

Summary: The Upper Hanover Township real estate market had 31 homes for sale in March 2024, the same as February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 77
0.0%
4 1818
0.0%
5+ 23
+50.0%

Summary: The Upper 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 decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
65-16.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Upper Hanover Township, you could pay more than the asking price. 80% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in Upper Hanover Township in March 2024, down by 16.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.

Days on Market for Upper Hanover Township, PA

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

Average Sale Time

Mar 2023Mar 2024CHANGE
62 Days19 Days-69.4%

Summary: Homes in Upper Hanover Township had an average of 19 days on market in Mar 2024, down by 69.4% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Upper Hanover Township are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 5 homes were sold in Upper Hanover Township; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% 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 22 Days Ago

Newest Listings in Upper Hanover Township, PA

Nearby Markets to Upper Hanover Township, PA

What housing markets are near Upper Hanover Township, PA?