Is Hanover Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Hanover Park has remained a Seller's Market.
Housing Prices in Hanover Park, IL
How much do homes in Hanover Park, IL cost?
Median Sold Price
$294,733
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Hanover Park was $294,733 in May 2024, up 7.3% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $151K | $150K | -0.7% |
2 Bedrooms | $195K | $220K | +12.8% |
3 Bedrooms | $265K | $291K | +9.8% |
4 Bedrooms | $325K | $349K | +7.4% |
5+ Bedrooms | $337.5K | $392.5K | +16.3% |
Summary: Hanover Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 16.3%.
Median Sold Price Compared To Nearby Cities
Streamwood | $260K | $295K | +13.5% |
Wayne Township | $342.6K | $379.6K | +10.8% |
Roselle | $290K | $315K | +8.6% |
Hanover Park | $274.7K | $294.7K | +7.3% |
Bartlett | $350K | $370.3K | +5.8% |
Housing Supply in Hanover Park, IL
How many homes are available in Hanover Park, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
76 | 91 | +19.7% |
Summary: The Hanover Park real estate market had 91 homes for sale in May 2024, a 19.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 13 | 16 | +23.1% |
3 Bedrooms | 45 | 52 | +15.6% |
4 Bedrooms | 13 | 17 | +30.8% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Hanover Park 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 increased by 23.1%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 29 | +31.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Hanover Park in May 2024, up by 31.8% month-over-month. Of the 29 sold homes, 14% were sold under asking, 21% were sold at asking, and 66% were sold over asking.
Days on Market for Hanover Park, IL
How long does it take to sell a home in Hanover Park, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
25 Days | 11 Days | -55.3% |
Summary: Homes in Hanover Park had an average of 11 days on market in May 2024, down by 55.3% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 29 homes were sold in Hanover Park; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.