The Long & Foster Market Minute

Focus On: Hanover Housing Market June 2021

Zip Code(s): 17331
Units Sold
114
Active Inventory
100
Median Sale Price
$239,950
Days On Market
21
Up
Vs. Year Ago
Down -42%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -70%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 114 sold this month in Hanover Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 72 units or 42%. The total number of active inventory this June was 100 compared to 172 in June 2020. This month's total of 100 is higher than the previous month's total supply of available inventory of 93, an increase of 8%.

Median Sale Price
Last June, the median sale price for Hanover Homes was $202,168. This June, the median sale price was $239,950, an increase of 19% or $37,782 compared to last year. The current median sold price is 14% higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
153
Current Contracts
108
Sold Vs. List Price
100.8%
Months of Supply
0.9
Up 12%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -66%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Hanover, compared to 2.6 in June 2020. That is a decrease of 66% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 153 homes newly listed for sale in Hanover compared to 137 in June 2020, an increase of 12%. There were 108 current contracts pending sale this June compared to 127 a year ago. The number of current contracts is 15% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Hanover was 100.8% of the average list price, which is 2.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 71, a decrease of 70%.

The Long & Foster Market Minute Hanover are defined as properties listed in zip code/s 17331.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.