Hanover Real Estate Statistics

Hanover real estate average sold price in the last 30 days (October 21 - November 19) was $638,760, which is $43,810 (6.9%) higher than the average price of $594,950 in the previous 30 day period (September 21 - October 20), and $159,810 (25.0%) up from the same period 1 year ago ($478,950). Hanover real estate prices over the last 30 days are also $140,935 (22.1%) higher than the average selling price of $497,825 over the past year.

Hanover average sold price for homes was $652,200 in the last 30 days (October 21 - November 19), which is $2,200 (0.3%) up from the average home price of $650,000 in the previous 30 day period (September 21 - October 20), and $204,200 (31.3%) higher than the same period 1 year ago ($448,000). In the last 30 days Hanover the average home price was $157,966 (24.2%) higher than the average selling price of $494,234 over the last 12 months.

Average sold price of Hanover townhouse was $585,000 in the last 30 days (October 21 - November 19), up $45,100 (7.7%) from the average townhome price of $539,900 over the previous 30 days (September 21 - October 20), and $75,100 (12.8%) higher than during to the same period 1 year ago ($509,900). Over the last 30 days the average townhouse price in Hanover was $314,405 (53.7%) higher compared to the average selling price of $270,595 over the last 12 months.

Average selling price for Hanover real estate was $638,760 in the last 30 days (October 21 - November 19), which is collectively $1,140 (0.1%) lower than the average asking price of $779,000. This represents an increase of $11,360 (90.9%) compared to $12,500 (2.1%) Sold-Under-Asking price from the previous 30 day period (September 21 - October 20).

The maximum Sold Over/Under Asking ratio in Hanover during the last 12 months was recorded in April, 2024 with an average of $6,442 over 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 500.0% with 5 properties sold and 6 new properties listed in the past 30 days (October 21 - November 19). This represents an increase from 33.3% recorded during the previous 30 day period (September 21 - October 20), and an increase from 200.0% 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 December 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 5 properties that were successfully sold in Hanover in the last 30 days (October 21 - November 19) was 91 days, which is 9 days less than 100 days average in the previous 30 day period (September 21 - October 20) and 40 days longer than during the same period a year ago (51 days).

There were 4 delisted properties in Hanover, those that got either Expired, Suspended or Terminated over the last 30 days (October 21 - November 19) with an average of 163 days on the market. This is 43 days longer than the average of 120 days during the previous 30 day period (September 21 - October 20) and 43 days more compared to the same period last year average of 120 days on the market.

4 Hanover properties that didn't sell stayed on the market 79.1% longer than 5 that sucessfully sold over the last 30 days - 91 days when sold vs 163 days when delisted respectively.

Average Days on the Market in Hanover over the past 12 months for properties that have sold was 57.7 days, with 121.8 days for those properties that did not sell.

1 new properties were listed on the market in Hanover in the last 30 days (October 21 - November 19). During the same time 5 properties were sold and 4 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 8 properties (or 800.0%).

During the previous 30 day period (September 21 - October 20) there were 6 new properties listed, 2 sold and 4 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was May with 16 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 1 homes listed during the last 30 days (October 21 - November 19), which is 100.0% of all properties listed in Hanover. This is a 75.0% decline compared with a previous 30 day period (September 21 - October 20) and 0.0% down from the same period a year ago. Over the past year an average of 4 homes are were listed per month.

There were a total of 4 homes sold during the last 30 days (October 21 - November 19), which is 80.0% of all properties sold in Hanover. This is a 300.0% increase compared with a previous 30 day period (September 21 - October 20) and 300.0% up from the same period a year ago. Over the past year an average of 3 homes are were sold per month.

1 townhomes were sold over the last 30 days (October 21 - November 19) in Hanover, which is 20.0% of all sold real estate. This is a 0.0% less than during the previous 30 day period (September 21 - October 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 0 a month.