Hanover Real Estate Statistics

Hanover real estate average sold price in the last 30 days (March 26 - April 24) was $614,525, which is $19,525 (3.2%) higher than the average price of $595,000 in the previous 30 day period (February 25 - March 25), and $289,525 (47.1%) up from the same period 1 year ago ($325,000). Hanover real estate prices over the last 30 days are also $221,576 (36.1%) higher than the average selling price of $392,949 over the past year.

Hanover average sold price for homes was $629,540 in the last 30 days (March 26 - April 24), which is $34,540 (5.5%) up from the average home price of $595,000 in the previous 30 day period (February 25 - March 25), and $304,540 (48.4%) higher than the same period 1 year ago ($325,000). In the last 30 days Hanover the average home price was $249,412 (39.6%) higher than the average selling price of $380,128 over the last 12 months.

Average selling price for Hanover real estate was $614,525 in the last 30 days (March 26 - April 24), which is collectively $6,442 (1.2%) higher than the average asking price of $551,687. This represents an increase of $11,342 (231.5%) compared to $4,900 (0.7%) Sold-Under-Asking price from the previous 30 day period (February 25 - March 25).

The maximum Sold Over/Under Asking ratio in Hanover during the last 12 months was recorded in September, 2023 with an average of $0 over the asking price, while the minimum occurring in April, 2023 with $50,000 below the asking price.

Sales to New Listings Ratio (SNLR) represents the number of sales in relation to new inventory listed over a period of time. SNLR for all property types in Hanover was 75.0% with 6 properties sold and 4 new properties listed in the past 30 days (March 26 - April 24). This represents a decrease from 75.0% recorded during the previous 30 day period (February 25 - March 25), and an increase from 33.3% compared to the same period one year ago.

Over the the last year the highest SNLR in Hanover was 850.0% recorded in January and the lowest was in September at 0.0%. SNLR of under 40% generally represents the Buyers' Market, while 60% and above - the Sellers' Market, with 40% to 60% range signaling a balanced market.

The Average Days on the Market (DOM) for 6 properties that were successfully sold in Hanover in the last 30 days (March 26 - April 24) was 109 days, which is 65 days more than 44 days average in the previous 30 day period (February 25 - March 25) and 29 days shorter than during the same period a year ago (138 days).

There were 2 delisted properties in Hanover, those that got either Expired, Suspended or Terminated over the last 30 days (March 26 - April 24) with an average of 121 days on the market. This is 53 days shorter than the average of 174 days during the previous 30 day period (February 25 - March 25) and 121 days more compared to the same period last year average of 0 days on the market.

2 Hanover properties that didn't sell stayed on the market 11.0% longer than 6 that sucessfully sold over the last 30 days - 109 days when sold vs 121 days when delisted respectively.

Average Days on the Market in Hanover over the past 12 months for properties that have sold was 41.3 days, with 98.7 days for those properties that did not sell.

8 new properties were listed on the market in Hanover in the last 30 days (March 26 - April 24). During the same time 6 properties were sold and 2 listings were removed from the market (Expired, Suspended or Terminated), which represents an increase in total inventory by 0 properties (or 0.0%).

During the previous 30 day period (February 25 - March 25) there were 4 new properties listed, 3 sold and 12 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was September with 14 new properties listed, the slowest - December with 1 new listings and a yearly average of 5 new listings per month.

There were a total of 4 homes listed during the last 30 days (March 26 - April 24), which is 50.0% of all properties listed in Hanover. This is a 0.0% decline compared with a previous 30 day period (February 25 - March 25) and 33.3% up from the same period a year ago. Over the past year an average of 5 homes are were listed per month.

There were a total of 5 homes sold during the last 30 days (March 26 - April 24), which is 83.3% of all properties sold in Hanover. This is a 66.7% increase compared with a previous 30 day period (February 25 - March 25) and 400.0% up from the same period a year ago. Over the past year an average of 4 homes are were sold per month.