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
$269,760
$156/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 $269,760 in May 2024, up 3.3% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112.4K | $129.9K | +15.6% |
2 Bedrooms | $166.2K | $201K | +20.9% |
3 Bedrooms | $249.9K | $255.8K | +2.4% |
4 Bedrooms | $347.9K | $363.6K | +4.5% |
5+ Bedrooms | $429.9K | $419.9K | -2.3% |
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 20.9%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 2.3%.
Median Sold Price Compared To Nearby Cities
Smith Township | $148.1K | $167K | +12.8% |
Hanover Township | $261.2K | $269.7K | +3.3% |
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 |
---|---|---|
272 | 279 | +2.6% |
Summary: The Hanover Township real estate market had 279 homes for sale in May 2024, a 2.6% 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 | 33 | 30 | -9.1% |
3 Bedrooms | 155 | 161 | +3.9% |
4 Bedrooms | 72 | 69 | -4.2% |
5+ Bedrooms | 12 | 19 | +58.3% |
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 9.1%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 58.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
55 | 63 | +14.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 63 homes were sold or pending in Hanover Township in May 2024, up by 14.5% month-over-month. Of the 63 sold homes, 17% 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 | 22 Days | +36.1% |
Summary: Homes in Hanover Township had an average of 22 days on market in May 2024, up by 36.1% compared to last year.
Breakdown of Home Sale Times
47 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, 63 homes were sold in Hanover Township; 75% 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.