Is Hanover Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Hanover Township has remained a Seller's Market.
Housing Prices in Hanover Township, IL
How much do homes in Hanover Township, IL cost?
Median Sold Price
$301,354
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Hanover Township was $301,354 in April 2024, up 9.6% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $148.9K | $156K | +4.8% |
2 Bedrooms | $219K | $250.1K | +14.2% |
3 Bedrooms | $285.1K | $307.1K | +7.7% |
4 Bedrooms | $385K | $430K | +11.7% |
5+ Bedrooms | $510K | $572.5K | +12.3% |
Summary: Hanover Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 12.3%.
Median Sold Price Compared To Nearby Cities
Streamwood | $260K | $295K | +13.5% |
Hanover Township | $275K | $301.3K | +9.6% |
Hoffman Estates | $325K | $355K | +9.2% |
Bartlett | $348K | $375K | +7.8% |
Hanover Park | $275K | $281.6K | +2.4% |
Housing Supply in Hanover Township, IL
How many homes are available in Hanover Township, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
225 | 270 | +20.0% |
Summary: The Hanover Township real estate market had 270 homes for sale in April 2024, a 20.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 73 | 79 | +8.2% |
3 Bedrooms | 94 | 118 | +25.5% |
4 Bedrooms | 43 | 53 | +23.3% |
5+ Bedrooms | 12 | 15 | +25.0% |
Summary: The Hanover Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 25.5%, 4 bedroom homes increased by 23.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
65 | 87 | +33.8% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
60 Homes Were Sold
Over Asking
Summary: A total of 87 homes were sold or pending in Hanover Township in April 2024, up by 33.8% month-over-month. Of the 87 sold homes, 18% were sold under asking, 13% were sold at asking, and 69% were sold over asking.
Days on Market for Hanover Township, IL
How long does it take to sell a home in Hanover Township, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
12 Days | 15 Days | +19.0% |
Summary: Homes in Hanover Township had an average of 15 days on market in Apr 2024, up by 19% compared to last year.
Breakdown of Home Sale Times
76 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 87 homes were sold in Hanover Township; 87% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.