Hanover, MA 02339 Real Estate Market Report

ZIP Code: 02339
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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.

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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.

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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.

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Property Taxes

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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.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Hanover, MA are 6.3%, reflecting a stable market environment for property owners compared to earlier 2026 fluctuations.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood’s primary market indicator is the median sold price: median sold price: 750,000, which reflects recent transaction-level valuation and should be the anchor for comparative market analysis.

2. The median listing price: median listing price: 1,075,000 sits above the median sold price, which may indicate pricing friction and elevated seller expectations relative to completed transactions.

3. Market conditions show market temperature: hot and a price year-over-year trend of up, with upward price momentum; however, interest rate pressure is elevated and Current 30-year fixed mortgage rates in Hanover, MA are 6.3%, which may restrain some buyer affordability.

4. Sales velocity appears slower given median days on market: median days on market: 240, suggesting longer time-to-contract despite a hot market; median price per square foot is median price per square foot: 328 and rent dynamics show a rent year-over-year trend of down with median market rent at median market rent: 3,152, all of which imply careful pricing and hold/sell timing considerations for sellers and investors.

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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.

Hanover, MA 02339 Real Estate Market Report

ZIP Code: 02339
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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.

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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.

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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.

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Property Taxes

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Liquidity & Velocity

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Hanover, MA are 6.3%, reflecting a stable market environment for property owners compared to earlier 2026 fluctuations.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's primary market indicator, the median sold price 797,700, confirms elevated transaction valuations and aligns with a broader up price trend and a hot market temperature, signaling sustained seller strength in recent closings.

2. The median price per square foot 330 combined with a median market rent 1,875 suggests relatively high price basis for both owner-occupied and rental comparables; note that rent is on a down trajectory year-over-year, which may introduce some near-term pressure on investor returns.

3. Given the market is reported as hot and prices are up, current conditions likely favor quicker transactions around the representative median sold price 797,700, though elevated interest rate pressure should be monitored as a potential moderating factor.

4. Analysis is based on a limited sample (the total sold properties analyzed 16), which means the median sold price 797,700 is the best available transaction-level signal but should be interpreted with caution until larger sample sizes are available; elevated interest rate pressure is an existing downside risk that may affect near-term velocity.

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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.