Is Hanover, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Hanover was a Seller's Market.
Housing Prices in Hanover, MA
How much do homes in Hanover, MA cost?
Median Sold Price
$755,000
$364/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Hanover was $755,000 in May 2024, up 7.1% from last year, and the median price per square foot was $364.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $640K | $555K | -13.3% |
3 Bedrooms | $627.5K | $687.5K | +9.6% |
4 Bedrooms | $900K | $866.7K | -3.7% |
5+ Bedrooms | $1.2M | $1.0M | -20.2% |
Summary: Hanover housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.3%, 3 bedroom homes increased by 9.6%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes decreased by 20.2%.
Housing Supply in Hanover, MA
How many homes are available in Hanover, MA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
28 | 41 | +46.4% |
Summary: The Hanover real estate market had 41 homes for sale in May 2024, a 46.4% 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 | 4 | 7 | +75.0% |
3 Bedrooms | 11 | 14 | +27.3% |
4 Bedrooms | 7 | 13 | +85.7% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Hanover 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 increased by 75%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 85.7%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 2 | -83.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Hanover in May 2024, down by 83.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Hanover, MA
How long does it take to sell a home in Hanover, MA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
46 Days | 18 Days | -61.2% |
Summary: Homes in Hanover had an average of 18 days on market in May 2024, down by 61.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Hanover; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.