Hanover Township Housing Market Report January 2025Wexford County, Michigan

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Housing Prices in Hanover Township, MI

How much do homes in Hanover Township, MI cost?

Housing Market Conditions

Is Hanover Township, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Hanover Township is a Neutral Market

Difference Since January 2024

At the same time last year, Hanover Township was a Seller's Market.

Insight

Hanover Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$315,000$166/SqFt
+$50,000
+18.9%

Based on all homes sold in the last 12 months

Insight

Homes in Hanover Township have sold for 18.9% more than they did a year ago.

Summary: The median home sold price in Hanover Township was $315,000 in January 2025, up 18.9% from last year, and the median price per square foot was $166.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1$17K$330K
+1841.2%
2$150.2K$192.4K
+28.1%
3$246.5K$290K
+17.6%
4$380.7K$375K
-1.5%
5$330K$427.4K
+29.5%

Summary: Hanover Township housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +1841.2%. The home price for 2 bedroom homes increased by +28.1%. The home price for 3 bedroom homes increased by +17.6%. The home price for 4 bedroom homes decreased by -1.5%. The home price for 5 bedroom homes increased by +29.5%.

Housing supply in Hanover Township, MI

How many homes are available in Hanover Township, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
13Last MonthJan 2025
112 months agoDec 2024
+18.2 %
Change MoMDec – Jan

Summary: The Hanover Township real estate market had 13 homes for sale in Jan 2025, a 18.2 % increase compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
2Last MonthJan 2025
42 months agoDec 2024
-50.0 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
100
0.0%
233
0.0%
357
+40.0%
422
0.0%
511
0.0%

Summary: Hanover Township housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +40.0%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Hanover Township, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price1 Home

Under Asking Price1 Home

Insight

If you're buying a home in Hanover Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Hanover Township in January 2025, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and and 0% were sold over asking.

Days on Market for Hanover Township, MI

How long does it take to sell a home in Hanover Township, MI?

Breakdown of Home Sale Times

Under 30 Days2 Homes

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

Many homes in Hanover Township are selling fast, if you're buying plan to act quickly.

Summary: During January 2025, 2 homes were sold in 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.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
3 DaysThis YearJan 2025
14 Days1 year agoJan 2024
-75.0 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in Hanover Township had an average listing age of 3 days in Jan 2025, down by 75.0% compared to the previous year.

Newest Listings in Hanover Township, MI

What homes are available in Hanover Township, MI?

MLS Disclaimers and Copyright

Based on information from Northern Great Lakes Realtors MLS, Michigan Regional Information Center LLC, and Water Wonderland MLS Inc. for the period 02/01/2023 - 02/01/2025

Copyright © 2025 Northern Great Lakes REALTORS® MLS™ All Rights Reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/12/2025, 4:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/11/2025, 11:50:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX © 2025 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/12/2025, 4:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.