Is Hanover Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Hanover Township has remained a Seller's Market.
Housing Prices in Hanover Township, PA
How much do homes in Hanover Township, PA cost?
Median Sold Price
$270,070
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Hanover Township was $270,070 in May 2024, up 1.9% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112.4K | $129.9K | +15.6% |
2 Bedrooms | $165.6K | $203K | +22.6% |
3 Bedrooms | $253.5K | $257.1K | +1.4% |
4 Bedrooms | $351.7K | $361.2K | +2.7% |
5+ Bedrooms | $414.4K | $419.9K | +1.3% |
Summary: Hanover Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 22.6%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 1.3%.
Median Sold Price Compared To Nearby Cities
Hanover Township | $261.2K | $269.7K | +3.3% |
Hanover Township | $265K | $270K | +1.9% |
Housing Supply in Hanover Township, PA
How many homes are available in Hanover Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
265 | 269 | +1.5% |
Summary: The Hanover Township real estate market had 269 homes for sale in May 2024, a 1.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 31 | 27 | -12.9% |
3 Bedrooms | 150 | 156 | +4.0% |
4 Bedrooms | 71 | 67 | -5.6% |
5+ Bedrooms | 13 | 19 | +46.2% |
Summary: The Hanover Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.9%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 46.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
56 | 61 | +8.9% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Summary: A total of 61 homes were sold or pending in Hanover Township in May 2024, up by 8.9% month-over-month. Of the 61 sold homes, 18% were sold under asking, 33% were sold at asking, and 49% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 23 Days | +46.8% |
Summary: Homes in Hanover Township had an average of 23 days on market in May 2024, up by 46.8% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 61 homes were sold in Hanover Township; 74% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.