Hanover, MA 02339 Real Estate Market Report

ZIP Code: 02339
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

---

Executive Overview

The real estate market in Hanover, MA is currently characterized by a median sold price of $729,900, reflecting strong demand and competitive conditions. The neighborhood has increased 15% since 2023, indicating robust market appreciation. With a median listing price of $1,199,950, there is a notable gap between asking prices and actual sold prices, suggesting potential pricing friction as sellers adjust expectations to align with buyer willingness to pay.

Market activity shows median days on market at 242 days, which indicates a slower sales velocity despite the elevated demand. The current inventory levels appear to be elevated relative to sales activity, resulting in a market that may be experiencing excess supply. This situation suggests that while buyers are active, the transaction volume is not keeping pace with the available listings, leading to a more cautious approach from sellers as they navigate this dynamic.

---

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

---

Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

---

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

---

Property Taxes

---

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

---

Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

---

Key Findings

1. The median sold price of $729,900 indicates strong demand despite elevated listing prices, suggesting potential pricing friction.

2. With a median listing price of $1,199,950, there is a significant gap between asking and sold prices, which may lead to adjustments in seller expectations.

3. The median days on market of 242 days reflects a slower sales velocity, indicating that properties are taking longer to sell despite market demand.

4. Market conditions are described as hot, suggesting strong buyer interest, yet elevated inventory levels indicate potential excess supply relative to sales activity.

5. The median market rent stands at $3,207, providing a stable rental environment amidst a fluctuating sales market.

---

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.