$5,700 Closing Credit*
$479,990
2,271 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: Lennar Sales Corp
Is Hanover, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
At the same time last year, Hanover was a Seller's Market.
Key Takeaway
Hanover is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Hanover, MN
How much do homes in Hanover, MN cost?
Median Sold Price
$453,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$31,589(+7.5%)
Key Takeaway
Homes in Hanover have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Hanover was $453,000 in December 2024, up 7.5% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $399.9K | $428.9K | +7.3% |
| 3 Bedrooms | $405K | $435K | +7.4% |
| 4 Bedrooms | $424.9K | $460K | +8.3% |
| 5+ Bedrooms | $447.5K | $541.2K | +21.0% |
Summary: Hanover housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 21%.
Median Sold Price Compared To Nearby Cities
| Greenfield | $610K | $750K | +23.0% |
| Hanover | $421.4K | $453K | +7.5% |
| Saint Michael | $430K | $446.1K | +3.8% |
| Rockford Township | $388.9K | $379.9K | -2.3% |
| Hassan Township | $494.9K | $439.9K | -11.1% |
Housing Supply in Hanover, MN
How many homes are available in Hanover, MN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 48 | 49 | +2.1% |
Summary: The Hanover real estate market had 49 homes for sale in December 2024, a 2.1% increase compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 17 | 18 | +5.9% |
| 4 Bedrooms | 18 | 17 | -5.6% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Hanover housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Hanover in December 2024, down by 42.9% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Hanover, MN
How long does it take to sell a home in Hanover, MN?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 38 Days | 42 Days | +10.7% |
Summary: Homes in Hanover had an average of 42 days on market in Dec 2024, up by 10.7% compared to last year.
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 has remained consistent over time.
Summary: During December 2024, 4 homes were sold in Hanover; 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.
