$10,000 Closing Credit*
$905,000
4 Beds
•2 Full Baths, 1 Partial
Listing Office: COLDWELL BANKER REALTY
Is East Hanover Township, NJ 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, East Hanover Township has remained a Seller's Market.
Key Takeaway
East Hanover Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Hanover Township, NJ
How much do homes in East Hanover Township, NJ cost?
Median Sold Price
$760,500
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$115,500(+17.9%)
Key Takeaway
Homes in East Hanover Township have sold for 17.9% more than they did a year ago.
Summary: The median home sold price in East Hanover Township was $760,500 in November 2024, up 17.9% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $256.2K | +122.8% |
| 2 Bedrooms | $525K | $449K | -14.5% |
| 3 Bedrooms | $622.5K | $660K | +6.0% |
| 4 Bedrooms | $750K | $850K | +13.3% |
| 5+ Bedrooms | $985K | $995K | +1.0% |
Summary: East Hanover Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 122.8%, 2 bedroom homes decreased by 14.5%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 1%.
Median Sold Price Compared To Nearby Cities
| Hanover Township | $562K | $667.5K | +18.8% |
| East Hanover Township | $645K | $760.5K | +17.9% |
| East Hanover | $645K | $760.5K | +17.9% |
| Whippany | $590K | $667.5K | +13.1% |
| Livingston Township | $900.2K | $998.9K | +11.0% |
Housing Supply in East Hanover Township, NJ
How many homes are available in East Hanover Township, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 32 | +39.1% |
Summary: The East Hanover Township real estate market had 32 homes for sale in November 2024, a 39.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 10 | 16 | +60.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The East Hanover Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 200%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 60%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Hanover Township, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in East Hanover Township in November 2024, up by 60.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for East Hanover Township, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
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