Blake and Ali Poore Team

Hanover, VA

Single-Family Homes

Long & Foster Real Estate



Hanover, VA

Wed Sep 22 2021
This week the median list price for Hanover, VA is $354,950 with the market action index hovering around 47. This is an increase over last month's market action index of 45. Inventory has decreased to 5. Click here to stay informed with the Hanover market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Hanover, VA

Wed Sep 22 2021
This week the median list price for Hanover, VA is $354,950 with the market action index hovering around 47. This is an increase over last month's market action index of 45. Inventory has decreased to 5. Click here to stay informed with the Hanover market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Real-Time Market Profile

Never miss important changes in the Hanover market.
Median List Price $354,950
Median Price of New Listings $0
Per Square Foot $170
Average Days on Market 49
Median Days on Market 35
Price Decreased 40%
Price Increased 20%
Relisted 0%
Inventory 5
Median Rent $2,043
Market Action 47
Strong Seller's Market

The market’s downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$950,000 5,102 10 - 20 acres 7 4 5 0 0 35
$685,809 3,134 5 - 10 acres 3 3 0 0 0 126
$354,950 2,154 1 - 2.5 acres 4 2 52 0 1 49
$199,950 1,247 2.5 - 5 acres 2 1 64 0 0 17