Hanover Real Estate Statistics

Hanover real estate average sold price in the last 30 days (January 21 - February 19) was $428,283, which is $88,989 (20.8%) lower than the average price of $517,272 in the previous 30 day period (December 22 - January 20), and $179,380 (41.9%) up from the same period 1 year ago ($248,903). Hanover real estate prices over the last 30 days are also $120,653 (28.2%) lower than the average selling price of $548,936 over the past year.

Hanover average sold price for homes was $431,175 in the last 30 days (January 21 - February 19), which is $79,324 (18.4%) down from the average home price of $510,499 in the previous 30 day period (December 22 - January 20), and $204,705 (47.5%) higher than the same period 1 year ago ($226,470). In the last 30 days Hanover the average home price was $116,907 (27.1%) lower than the average selling price of $548,082 over the last 12 months.

Average sold price of Hanover townhouse was $520,000 in the last 30 days (January 21 - February 19), down $65,000 (12.5%) from the average townhome price of $585,000 over the previous 30 days (December 22 - January 20), and $1,908 (0.4%) higher than during to the same period 1 year ago ($518,092). Over the last 30 days the average townhouse price in Hanover was $138,367 (26.6%) higher compared to the average selling price of $381,633 over the last 12 months.

Average selling price for Hanover real estate was $428,283 in the last 30 days (January 21 - February 19), which is collectively $5,633 (1.1%) lower than the average asking price of $502,425. This represents an increase of $6,094 (52.0%) compared to $11,727 (2.0%) Sold-Under-Asking price from the previous 30 day period (December 22 - January 20).

The maximum Sold Over/Under Asking ratio in Hanover during the last 12 months was recorded in May, 2024 with an average of $1,000 under the asking price, while the minimum occurring in June, 2024 with $23,450 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 50.0% with 6 properties sold and 5 new properties listed in the past 30 days (January 21 - February 19). This represents a decrease from 220.0% recorded during the previous 30 day period (December 22 - January 20), and a decrease from 216.7% compared to the same period one year ago.

Over the the last year the highest SNLR in Hanover was 4,312.5% recorded in December and the lowest was in November at 7.9%. 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 (January 21 - February 19) was 115 days, which is 34 days more than 81 days average in the previous 30 day period (December 22 - January 20) and 24 days longer than during the same period a year ago (91 days).

There were 2 delisted properties in Hanover, those that got either Expired, Suspended or Terminated over the last 30 days (January 21 - February 19) with an average of 91 days on the market. This is 75 days shorter than the average of 166 days during the previous 30 day period (December 22 - January 20) and 85 days less compared to the same period last year average of 176 days on the market.

2 Hanover properties that didn't sell stayed on the market 20.9% longer than 6 that sucessfully sold over the last 30 days - 115 days when sold vs 91 days when delisted respectively.

Average Days on the Market in Hanover over the past 12 months for properties that have sold was 61.8 days, with 121.3 days for those properties that did not sell.

12 new properties were listed on the market in Hanover in the last 30 days (January 21 - February 19). 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 4 properties (or 33.3%).

During the previous 30 day period (December 22 - January 20) there were 5 new properties listed, 11 sold and 9 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was November with 63 new properties listed, the slowest - July with 4 new listings and a yearly average of 14 new listings per month.

There were a total of 10 homes listed during the last 30 days (January 21 - February 19), which is 83.3% of all properties listed in Hanover. This is a 100.0% increase compared with a previous 30 day period (December 22 - January 20) and 150.0% up from the same period a year ago. Over the past year an average of 13 homes are were listed per month.

There were a total of 4 homes sold during the last 30 days (January 21 - February 19), which is 66.7% of all properties sold in Hanover. This is a 60.0% decline compared with a previous 30 day period (December 22 - January 20) and 66.7% down from the same period a year ago. Over the past year an average of 78 homes are were sold per month.

1 townhomes were sold over the last 30 days (January 21 - February 19) in Hanover, which is 16.7% of all sold real estate. This is a 0.0% less than during the previous 30 day period (December 22 - January 20) and 0.0% decrease compared to the same period a year ago. During the last year the average number of townhomes sold stood at 2 a month.