Is South 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
Since last year, South Hanover Township has remained a Seller's Market.
Housing Prices in South Hanover Township, PA
How much do homes in South Hanover Township, PA cost?
Median Sold Price
$368,750
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Hanover Township was $368,750 in May 2024, up 27.8% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $190K | $235K | +23.7% |
3 Bedrooms | $252K | $350K | +38.9% |
4 Bedrooms | $519.2K | $574.5K | +10.6% |
5+ Bedrooms | $561.4K | $755K | +34.5% |
Summary: South 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 23.7%, 3 bedroom homes increased by 38.9%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 34.5%.
Median Sold Price Compared To Nearby Cities
South Hanover Township | $288.5K | $368.7K | +27.8% |
West Hanover Township | $277.5K | $330.5K | +19.1% |
Hummelstown | $320K | $350K | +9.4% |
Derry Township | $330K | $340K | +3.0% |
Lower Paxton Township | $300K | $295K | -1.6% |
Housing Supply in South Hanover Township, PA
How many homes are available in South Hanover Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 21 | -19.2% |
Summary: The South Hanover Township real estate market had 21 homes for sale in May 2024, a 19.2% decrease 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 | 3 | 1 | -66.7% |
3 Bedrooms | 7 | 6 | -14.3% |
4 Bedrooms | 10 | 8 | -20.0% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The South 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 66.7%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 4 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in South Hanover Township in May 2024, down by 50.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for South Hanover Township, PA
How long does it take to sell a home in South Hanover Township, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
4 Days | 12 Days | +206.3% |
Summary: Homes in South Hanover Township had an average of 12 days on market in May 2024, up by 206.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in South Hanover Township; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.