$5,451 Closing Credit*
$459,000
2,166 SqFt
4 Beds
•2 Full Baths, 1 Partial
DJ Whiting, Listing Office: Real Broker LLC
Is Hanover County, VA 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 County has remained a Seller's Market.
Key Takeaway
Hanover County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hanover County, VA
How much do homes in Hanover County, VA cost?
Median Sold Price
$462,367
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$34,556(+8.1%)
Key Takeaway
Homes in Hanover County have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Hanover County was $462,367 in November 2024, up 8.1% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $239.9K | $257.4K | +7.3% |
| 2 Bedrooms | $286.3K | $310K | +8.3% |
| 3 Bedrooms | $360K | $389.9K | +8.3% |
| 4 Bedrooms | $489.7K | $535.1K | +9.3% |
| 5+ Bedrooms | $645K | $655K | +1.6% |
Summary: Hanover County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.3%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Counties
| Henrico County | $394.3K | $430.7K | +9.2% |
| Hanover County | $427.8K | $462.3K | +8.1% |
| King William County | $329.9K | $350K | +6.1% |
| Caroline County | $335K | $350K | +4.5% |
| New Kent County | $407.6K | $425.5K | +4.4% |
Housing Supply in Hanover County, VA
How many homes are available in Hanover County, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 580 | 540 | -6.9% |
Summary: The Hanover County real estate market had 540 homes for sale in November 2024, a 6.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 54 | 60 | +11.1% |
| 3 Bedrooms | 221 | 201 | -9.0% |
| 4 Bedrooms | 213 | 203 | -4.7% |
| 5+ Bedrooms | 89 | 74 | -16.9% |
Summary: The Hanover County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 9%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes decreased by 16.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 137 | 112 | -18.2% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
41 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hanover County, expect to pay close to the asking price. 36.9% of homes here sold near the asking price last month.
Summary: A total of 112 homes were sold or pending in Hanover County in November 2024, down by 18.2% month-over-month. Of the 111 sold homes, 27% were sold under asking, 37% were sold at asking, and 36% were sold over asking.
Days on Market for Hanover County, VA
How long does it take to sell a home in Hanover County, VA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 33 Days | +5.3% |
Summary: Homes in Hanover County had an average of 33 days on market in Nov 2024, up by 5.3% compared to last year.
Breakdown of Home Sale Times
80 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hanover County are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 112 homes were sold in Hanover County; 71% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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Information is provided by Charlottesville Area Association 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. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user.