$5,606 Closing Credit*
$472,066
2,334 SqFt
4 Beds
•2 Full Baths, 1 Partial
Austin Chad Waechter, Listing Office: Joseph A Myers Real Estate, Inc.
Is Hanover, PA 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 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, PA
How much do homes in Hanover, PA cost?
Median Sold Price
$280,347
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$12,347(+4.6%)
Key Takeaway
Homes in Hanover have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Hanover was $280,347 in November 2024, up 4.6% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $95K | -34.5% |
| 2 Bedrooms | $197K | $205K | +4.1% |
| 3 Bedrooms | $255K | $269.8K | +5.8% |
| 4 Bedrooms | $359.9K | $362.3K | +0.7% |
| 5+ Bedrooms | $440K | $434.9K | -1.1% |
Summary: Hanover housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.5%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 1.1%.
Median Sold Price Compared To Nearby Cities
| Conewago Township | $235K | $274.9K | +17.0% |
| Hanover | $268K | $280.3K | +4.6% |
| Penn Township | $275K | $279.9K | +1.8% |
Housing Supply in Hanover, PA
How many homes are available in Hanover, PA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 256 | 242 | -5.5% |
Summary: The Hanover real estate market had 242 homes for sale in November 2024, a 5.5% decrease 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 | 27 | 24 | -11.1% |
| 3 Bedrooms | 141 | 135 | -4.3% |
| 4 Bedrooms | 68 | 69 | +1.5% |
| 5+ Bedrooms | 20 | 14 | -30.0% |
Summary: The Hanover 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 11.1%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 89 | 53 | -40.4% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover, you may be able to get a good deal. 34% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in Hanover in November 2024, down by 40.4% month-over-month. Of the 53 sold homes, 34% were sold under asking, 34% were sold at asking, and 32% were sold over asking.
Days on Market for Hanover, PA
How long does it take to sell a home in Hanover, PA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 29 Days | -9.7% |
Summary: Homes in Hanover had an average of 29 days on market in Nov 2024, down by 9.7% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hanover are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 53 homes were sold in Hanover; 72% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
