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Hanover Housing Market Report June 2025•King William County, Virginia

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Housing Prices in Hanover, VA

How much do homes in Hanover, VA cost?

Housing Market Conditions

Is Hanover, VA 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 Seller's Market

Difference Since June 2024

Since last year, Hanover has remained a Seller's Market.

Insight

Hanover is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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.
$370,000$231/SqFt
-$50,600
-12.0%

Based on all homes sold in the last 12 months

Insight

Homes in Hanover have sold for 12% less than they did a year ago.

Summary: The median home sold price in Hanover was $370,000 in June 2025, down 12% from last year, and the median price per square foot was $231.

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
Aylett
+5.1%
Mangohick
+4.4%
Henry
-1.7%
Manquin
-7.0%
Hanover
-12.0%

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.
BedsJun 2024Jun 2025Change YoY
1--
N/A
2$147.5K$261.4K
+77.3%
3$325K$370K
+13.8%
4$618.5K$580.4K
-6.2%
5$918.3K$524.2K
-42.9%

Summary: Hanover housing price by bedroom type for June 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 +77.3%. The home price for 3 bedroom homes increased by +13.8%. The home price for 4 bedroom homes decreased by -6.2%. The home price for 5 bedroom homes decreased by -42.9%.

How does Hanover, VA compare with other places?

Market comparison tool

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

Hanover, VA

Housing supply in Hanover, VA

How many homes are available in Hanover, VA?

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
7Last MonthJun 2025
72 months agoMay 2025
0.0 %
Change MoMMay – Jun

Summary: The Hanover real estate market had 7 homes for sale in Jun 2025, the same as May 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
2Last MonthJun 2025
22 months agoMay 2025
0.0 %
Change MoMMay – Jun

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.
BedsMay 2025Jun 2025Change MoM
100
0.0%
232
-33.3%
322
0.0%
423
+50.0%
500
0.0%

Summary: Hanover housing inventory by bedroom type for June 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 remained the same. The inventory for 4 bedroom homes increased by +50.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Hanover, VA 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 Price0 Home

Insight

If you're buying a home in Hanover, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 2 homes were sold or pending in Hanover in June 2025, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and and 100% were sold over asking.

Days on Market for Hanover, VA

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

Breakdown of Home Sale Times

Under 30 Days2 Homes

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

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

Summary: During June 2025, 2 homes were sold in Hanover; 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
17 DaysThis YearJun 2025
277 Days1 year agoJun 2024
-93.7 %
Change YoYJun 2024 – Jun 2025

Summary: Homes in Hanover had an average listing age of 17 days in Jun 2025, down by 93.7% compared to the previous year.

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Newest Listings in Hanover, VA

What homes are available in Hanover, VA?

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Nearby markets

Popular Cities with Homes for Sale in Virginia

MLS Disclaimers and Copyright

Based on information from Central Virginia Regional MLS, for the period 07/01/2023 - 07/01/2025

IDX All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. 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. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2025 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/16/2025, 4:45:28 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.