Hanover Housing Market Report May 2025•Chautauqua County, New York

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Housing Prices in Hanover, NY

How much do homes in Hanover, NY cost?

Housing Market Conditions

Is Hanover, NY 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 is a Neutral Market

Difference Since May 2024

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

Insight

Hanover 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.
$181,250$109/SqFt
+$26,250
+16.9%

Based on all homes sold in the last 12 months

Insight

Homes in Hanover have sold for 16.9% more than they did a year ago.

Summary: The median home sold price in Hanover was $181,250 in May 2025, up 16.9% from last year, and the median price per square foot was $109.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Silver Creek
+20.4%
Hanover
+16.9%
Forestville
+7.2%
Irving
-3.0%

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.
BedsMay 2024May 2025Change YoY
1--
N/A
2$90K$192K
+113.3%
3$172.8K$180K
+4.1%
4$152.5K$170K
+11.5%
5$185K$349.9K
+89.1%

Summary: Hanover housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +113.3%. The home price for 3 bedroom homes increased by +4.1%. The home price for 4 bedroom homes increased by +11.5%. The home price for 5 bedroom homes increased by +89.1%.

How does Hanover, NY compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Hanover, NY

Housing supply in Hanover, NY

How many homes are available in Hanover, NY?

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
19Last MonthMay 2025
232 months agoApr 2025
-17.4 %
Change MoMApr – May

Summary: The Hanover real estate market had 19 homes for sale in May 2025, a 17.4 % decrease compared to Apr 2025.

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
3Last MonthMay 2025
42 months agoApr 2025
-25.0 %
Change MoMApr – May

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.
BedsApr 2025May 2025Change MoM
100
0.0%
232
-33.3%
31110
-9.1%
453
-40.0%
544
0.0%

Summary: Hanover housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -33.3%. The inventory for 3 bedroom homes decreased by -9.1%. The inventory for 4 bedroom homes decreased by -40.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Hanover, NY 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 Price2 Homes

At Asking Price0 Home

Under Asking Price1 Home

Insight

If you're buying a home in Hanover, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Hanover in May 2025, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and and 67% were sold over asking.

Days on Market for Hanover, NY

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

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days1 Home

Over 90 Days1 Home

Insight

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

Summary: During May 2025, 3 homes were sold in Hanover; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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
125 DaysThis YearMay 2025
26 Days1 year agoMay 2024
+371.3 %
Change YoYMay 2024 – May 2025

Summary: Homes in Hanover had an average listing age of 125 days in May 2025, up by 371.3% compared to the previous year.

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Newest Listings in Hanover, NY

What homes are available in Hanover, NY?

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MLS Disclaimers and Copyright

Based on information from New York State Alliance of MLS, for the period 06/01/2023 - 06/01/2025

IDXThe data relating to real estate on this website comes in part from the Internet Data Exchange (IDX) Program of NYSAMLS’s. Real estate listings held by other firms are marked with theListing Broker’s Firm Name. Data provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that 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 listing broker(s) nor this firm shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally
harmless.

© 2025 CNYIS, UNYREIS, WNYREIS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 6/22/2025, 3:45:28 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.