Is Upper Hanover Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Upper Hanover Township has remained a Seller's Market.
Key Takeaway
Upper Hanover Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Upper Hanover Township, PA
How much do homes in Upper Hanover Township, PA cost?
Median Sold Price
$510,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Upper Hanover Township have sold for 25.4% more than they did a year ago.
Summary: The median home sold price in Upper Hanover Township was $510,000 in June 2024, up 25.4% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $236K | $281K | +19.1% |
| 3 Bedrooms | $350K | $351.2K | 0.4% |
| 4 Bedrooms | $470K | $600K | +27.7% |
| 5+ Bedrooms | $540K | $787.5K | +45.8% |
Summary: Upper Hanover Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.1%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 27.7%, and 5+ bedroom homes increased by 45.8%.
Median Sold Price Compared To Nearby Cities
| Pennsburg | $329.9K | $430.5K | +30.5% |
| Upper Hanover Township | $406.8K | $510K | +25.4% |
Housing Supply in Upper Hanover Township, PA
How many homes are available in Upper Hanover Township, PA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 23 | 27 | +17.4% |
Summary: The Upper Hanover Township real estate market had 27 homes for sale in June 2024, a 17.4% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 4 | +300.0% |
| 3 Bedrooms | 7 | 5 | -28.6% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Upper Hanover Township housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 300%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper Hanover Township, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Upper Hanover Township in June 2024, up by 125.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 11% were sold at asking, and 44% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 6 Days | 15 Days | +139.0% |
Summary: Homes in Upper Hanover Township had an average of 15 days on market in Jun 2024, up by 139% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Upper Hanover Township are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 9 homes were sold in Upper Hanover Township; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
