$10,000 Closing Credit*
$1,525,000
3,922 SqFt
4 Beds
•3 Full Baths, 1 Partial
Listing Office: WEICHERT REALTORS
Is 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, 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, NJ
How much do homes in Hanover Township, NJ cost?
Median Sold Price
$667,500
$403/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$105,401(+18.8%)
Key Takeaway
Homes in Hanover Township have sold for 18.8% more than they did a year ago.
Summary: The median home sold price in Hanover Township was $667,500 in November 2024, up 18.8% from last year, and the median price per square foot was $403.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $353K | - | N/A |
| 2 Bedrooms | $449K | $526.2K | +17.2% |
| 3 Bedrooms | $585K | $625K | +6.8% |
| 4 Bedrooms | $705K | $827K | +17.3% |
| 5+ Bedrooms | $999.9K | $1.3M | +35.1% |
Summary: Hanover Township 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 17.2%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes increased by 35.1%.
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% |
Housing Supply in Hanover Township, NJ
How many homes are available in Hanover Township, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 38 | 38 | 0.0% |
Summary: The Hanover Township real estate market had 38 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 11 | 7 | -36.4% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
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 36.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 30%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Hanover Township in November 2024, up by 50.0% month-over-month. Of the 12 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Hanover Township, NJ
We’re sorry, we don't have information for this market at the moment
