$356 Closing Credit*
$30,000
1,143 SqFt
2 Beds
•1 Full Bath
Wayne Weaver, Listing Office: Real Estate Advantage
Is Hanover, NY 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 has remained a Seller's Market.
Key Takeaway
Hanover is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hanover, NY
How much do homes in Hanover, NY cost?
Median Sold Price
$172,000
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,000(+8.9%)
Key Takeaway
Homes in Hanover have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Hanover was $172,000 in October 2024, up 8.9% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $143K | $192K | +34.3% |
| 3 Bedrooms | $159.8K | $172K | +7.6% |
| 4 Bedrooms | $150K | $170K | +13.3% |
| 5+ Bedrooms | $190K | $166.7K | -12.3% |
Summary: Hanover housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 34.3%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes decreased by 12.3%.
Median Sold Price Compared To Nearby Cities
| Silver Creek | $157K | $175K | +11.5% |
| Hanover | $158K | $172K | +8.9% |
| Forestville | $160K | $148.7K | -7.1% |
Housing Supply in Hanover, NY
How many homes are available in Hanover, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 36 | +5.9% |
Summary: The Hanover real estate market had 36 homes for sale in October 2024, a 5.9% 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 | 7 | 7 | 0.0% |
| 3 Bedrooms | 16 | 15 | -6.3% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Hanover 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 remained the same, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Hanover in October 2024, up by 133.3% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Hanover, NY
How long does it take to sell a home in Hanover, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 60 Days | 30 Days | -49.2% |
Summary: Homes in Hanover had an average of 30 days on market in Oct 2024, down by 49.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Hanover are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in Hanover; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
