$3,859 Closing Credit*
$325,000
960 SqFt
2 Beds
•1 Full Bath
Christine E Haines, Listing Office: RE/MAX at Home
Is North 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
At the same time last year, North Hanover Township was a Neutral Market.
Key Takeaway
North Hanover Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Hanover Township, NJ
How much do homes in North Hanover Township, NJ cost?
Median Sold Price
$632,500
$263/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$160,000(+33.9%)
Key Takeaway
Homes in North Hanover Township have sold for 33.9% more than they did a year ago.
Summary: The median home sold price in North Hanover Township was $632,500 in November 2024, up 33.9% from last year, and the median price per square foot was $263.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $84K | $227K | +170.2% |
| 3 Bedrooms | $444K | $458.7K | +3.3% |
| 4 Bedrooms | $477.5K | $695K | +45.5% |
| 5+ Bedrooms | $989K | $1.0M | +3.6% |
Summary: North 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 170.2%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
| North Hanover Township | $472.5K | $632.5K | +33.9% |
| Plumsted Township | $410.9K | $549.9K | +33.8% |
| Chesterfield | $657.5K | $688K | +4.6% |
Housing Supply in North Hanover Township, NJ
How many homes are available in North Hanover Township, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Summary: The North Hanover Township real estate market had 18 homes for sale in November 2024, a 12.5% increase 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 4 | 7 | +75.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The North 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 remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 75%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Hanover Township, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in North Hanover Township in November 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for North Hanover Township, NJ
How long does it take to sell a home in North Hanover Township, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 21 Days | +40.0% |
Summary: Homes in North Hanover Township had an average of 21 days on market in Nov 2024, up by 40% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Hanover Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in North Hanover Township; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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.