Blake and Ali Poore Team

Hanover, VA

Single-Family Homes

Compass



Hanover, VA

Tue Aug 09 2022
This week the median list price for Hanover, VA is $592,499 with the market action index hovering around 41. This is less than last month's market action index of 47. Inventory has increased to 6. 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.

Slight Seller's Advantage

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Hanover, VA

Tue Aug 09 2022
This week the median list price for Hanover, VA is $592,499 with the market action index hovering around 41. This is less than last month's market action index of 47. Inventory has increased to 6. 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.

Slight Seller's Advantage

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Hanover market.
Median List Price $592,499
Median Price of New Listings $1,822,500
Per Square Foot $231
Average Days on Market 120
Median Days on Market 39
Price Decreased 50%
Price Increased 0%
Relisted 0%
Inventory 6
Median Rent
Market Action 41
Slight Seller's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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
$3,500,000 3,794 N/A 4 3 51 1 0 0
$993,950 4,141 5 - 10 acres 5 4.5 14 0 0 70
$592,499 2,516 5 - 10 acres 3 2.5 36 0 0 322
$240,000 1,536 0.5 - 1 acre 3 1.5 31 1 0 3