$8,193 Closing Credit*
$689,900
2,251 SqFt
4 Beds
•3 Full Baths
#73312835, Anne Fitzgerald, Listing Office: William Raveis R.E. & Home Services
Is Hanover, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Hanover has remained a Seller's Market.
Key Takeaway
Hanover is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hanover, MA
How much do homes in Hanover, MA cost?
Median Sold Price
$777,450
$355/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$54,950(+7.6%)
Key Takeaway
Homes in Hanover have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Hanover was $777,450 in October 2024, up 7.6% from last year, and the median price per square foot was $355.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $655K | $710K | +8.4% |
| 3 Bedrooms | $632K | $690K | +9.2% |
| 4 Bedrooms | $865K | $932K | +7.7% |
| 5+ Bedrooms | $979.9K | $1.0M | +7.3% |
Summary: Hanover housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 7.3%.
Housing Supply in Hanover, MA
How many homes are available in Hanover, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 42 | +23.5% |
Summary: The Hanover real estate market had 42 homes for sale in October 2024, a 23.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 11 | 16 | +45.5% |
| 4 Bedrooms | 15 | 16 | +6.7% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Hanover housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Hanover in October 2024, down by 9.1% month-over-month. Of the 10 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 30 Days | 17 Days | -42.5% |
Summary: Homes in Hanover had an average of 17 days on market in Oct 2024, down by 42.5% compared to last year.
Breakdown of Home Sale Times
9 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 Hanover are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Hanover; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
