$45,000
3.77 Acres
Land
Jenna Mahoney, Listing Office: Essential Real Estate
Is Hanover Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Hanover Township has remained a Seller's Market.
Key Takeaway
Hanover Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hanover Township, MI
How much do homes in Hanover Township, MI cost?
Median Sold Price
$326,000
$219/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$70,850(+27.8%)
Key Takeaway
Homes in Hanover Township have sold for 27.8% more than they did a month ago.
Summary: The median home sold price in Hanover Township was $326,000 in November 2024, up 27.8% from last month, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $120.3K | - | N/A |
| 3 Bedrooms | $30K | $320K | +966.7% |
| 4 Bedrooms | $390K | $332K | -14.9% |
| 5+ Bedrooms | $515K | - | N/A |
Summary: Hanover Township housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 966.7%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Hanover Township | $255.1K | $326K | +27.8% |
| Wexford Township | $389.9K | $315K | -19.2% |
Housing Supply in Hanover Township, MI
How many homes are available in Hanover Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Summary: The Hanover Township real estate market had 16 homes for sale in November 2024, a 15.8% 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Hanover Township 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 decreased by 33.3%, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Hanover Township in November 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Hanover Township, MI
How long does it take to sell a home in Hanover Township, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 82 Days | 32 Days | -60.2% |
Summary: Homes in Hanover Township had an average of 32 days on market in Nov 2024, down by 60.2% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Hanover Township has remained consistent over time.
Summary: During November 2024, 4 homes were sold in Hanover Township; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
