Is Hanover Township, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hanover Township is a 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, PA

How much do homes in Hanover Township, PA cost?

Median Sold Price

$295,423

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$13,955(+5.0%)

Key Takeaway

Homes in Hanover Township have sold for 5% more than they did a year ago.

Summary: The median home sold price in Hanover Township was $295,423 in November 2024, up 5% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $155K$95K
-38.7%
2 $219.9K$222K
+1.0%
3 $263.1K$274.9K
+4.5%
4 $390K$399.9K
+2.5%
5+ $469.9K$464.9K
-1.1%

Summary: Hanover Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.7%, 2 bedroom homes increased by 1%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes decreased by 1.1%.

Median Sold Price Compared To Nearby Cities

East Allen Township
+10.5%
Hanover Township
+5.0%
Hanover Township
+4.6%
Bethlehem
+3.8%
Bethlehem Township
+3.8%

Housing Supply in Hanover Township, PA

How many homes are available in Hanover Township, PA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
293259-11.6%

Summary: The Hanover Township real estate market had 259 homes for sale in November 2024, a 11.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 3125
-19.4%
3 151140
-7.3%
4 8474
-11.9%
5+ 2720
-25.9%

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 19.4%, 3 bedroom homes decreased by 7.3%, 4 bedroom homes decreased by 11.9%, and 5+ bedroom homes decreased by 25.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
10859-45.4%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

20 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hanover Township, you may be able to get a good deal. 35.6% of homes here sold below asking price last month.

Summary: A total of 59 homes were sold or pending in Hanover Township in November 2024, down by 45.4% month-over-month. Of the 59 sold homes, 36% were sold under asking, 31% were sold at asking, and 34% were sold over asking.

Days on Market for Hanover Township, PA

How long does it take to sell a home in Hanover Township, PA?

Average Sale Time

Nov 2023Nov 2024CHANGE
30 Days29 Days-2.1%

Summary: Homes in Hanover Township had an average of 29 days on market in Nov 2024, down by 2.1% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Hanover Township are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 59 homes were sold in Hanover Township; 69% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Hanover Township, PA

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