$10,000 Closing Credit*
$1,299,000
3,042 SqFt
4 Beds
•2 Full Baths, 1 Partial
#73316614, The Piracini Group, Listing Office: Compass
Is Hanover, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$775,000
$354/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$32,500(+4.4%)
Key Takeaway
Homes in Hanover have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in Hanover was $775,000 in November 2024, up 4.4% from last year, and the median price per square foot was $354.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $650K | $710K | +9.2% |
| 3 Bedrooms | $650K | $677.5K | +4.2% |
| 4 Bedrooms | $875K | $940K | +7.4% |
| 5+ Bedrooms | $979.9K | $830K | -15.3% |
Summary: Hanover housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 15.3%.
Housing Supply in Hanover, MA
How many homes are available in Hanover, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 42 | 37 | -11.9% |
Summary: The Hanover real estate market had 37 homes for sale in November 2024, a 11.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 16 | 16 | 0.0% |
| 4 Bedrooms | 15 | 12 | -20.0% |
| 5+ Bedrooms | 6 | 3 | -50.0% |
Summary: The Hanover housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Hanover in November 2024, up by 20.0% month-over-month. Of the 12 sold homes, 42% were sold under asking, 8% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 28 Days | 35 Days | +26.4% |
Summary: Homes in Hanover had an average of 35 days on market in Nov 2024, up by 26.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 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 November 2024, 12 homes were sold in Hanover; 75% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
