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 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
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
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $235K | $430K | +83.0% |
| 3 Bedrooms | $350K | $360K | +2.9% |
| 4 Bedrooms | $480K | $577.5K | +20.3% |
| 5+ Bedrooms | $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 | $320K | $399K | +24.7% |
| Upper Hanover Township | $435K | $462.5K | +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 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 31 | 0.0% |
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
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 18 | 18 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +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 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -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
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 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 62 Days | 19 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
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.
