Is Upper Hanover Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Upper Hanover Township was a Neutral Market.
Key Takeaway
Upper Hanover Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Upper Hanover Township, PA
How much do homes in Upper Hanover Township, PA cost?
Median Sold Price
$482,450
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Upper Hanover Township have sold for 17.3% more than they did a year ago.
Summary: The median home sold price in Upper Hanover Township was $482,450 in May 2024, up 17.3% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $235K | $355.5K | +51.3% |
| 3 Bedrooms | $350K | $360K | +2.9% |
| 4 Bedrooms | $475K | $610K | +28.4% |
| 5+ Bedrooms | $520K | $787.5K | +51.4% |
Summary: Upper Hanover Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 51.3%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 28.4%, and 5+ bedroom homes increased by 51.4%.
Median Sold Price Compared To Nearby Cities
| East Greenville | $242K | $350K | +44.6% |
| Pennsburg | $327.2K | $430K | +31.4% |
| Upper Hanover Township | $411.2K | $482.4K | +17.3% |
Housing Supply in Upper Hanover Township, PA
How many homes are available in Upper Hanover Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 22 | 0.0% |
Summary: The Upper Hanover Township real estate market had 22 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 0 | -100.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 14 | 14 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Upper Hanover Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper Hanover Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Upper Hanover Township in May 2024, down by 57.1% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Upper Hanover Township, PA
How long does it take to sell a home in Upper Hanover Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 5 Days | -53.1% |
Summary: Homes in Upper Hanover Township had an average of 5 days on market in May 2024, down by 53.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Upper Hanover Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Upper Hanover Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
