$3,147 Closing Credit*
$265,000
1,100 SqFt
3 Beds
•1 Full Bath, 1 Partial
Crystal Gober, Listing Office: Traverse 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 October 2023
Since last year, 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
$270,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,000(+8.0%)
Key Takeaway
Homes in Hanover Township have sold for 8% more than they did a year ago.
Summary: The median home sold price in Hanover Township was $270,000 in October 2024, up 8% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $17K | $330K | +1841.2% |
| 2 Bedrooms | $144.5K | $191.4K | +32.5% |
| 3 Bedrooms | $225K | $267.5K | +18.9% |
| 4 Bedrooms | $440.7K | $382.5K | -13.2% |
| 5+ Bedrooms | $285K | $427.4K | +50.0% |
Summary: Hanover Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1841.2%, 2 bedroom homes increased by 32.5%, 3 bedroom homes increased by 18.9%, 4 bedroom homes decreased by 13.2%, and 5+ bedroom homes increased by 50%.
Housing Supply in Hanover Township, MI
How many homes are available in Hanover Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 22 | +37.5% |
Summary: The Hanover Township real estate market had 22 homes for sale in October 2024, a 37.5% 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 | 6 | 12 | +100.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Hanover Township 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 100%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Hanover Township in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 56 Days | 82 Days | +47.8% |
Summary: Homes in Hanover Township had an average of 82 days on market in Oct 2024, up by 47.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hanover Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Hanover Township; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
