Hanover, MA 02339 Real Estate Market Report

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

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

Key Findings

1. The primary market indicator, median sold price 734,500, shows realized transaction values that buyers are paying in this cycle, providing the best lens on current market value and recent liquidity.
2. There is a notable spread between the median listing price 1,143,950 and the median sold price 734,500, which may indicate pricing friction between seller expectations and realized transactions; sellers should consider aligning offers with recent sales to improve transaction likelihood. moderate
3. Market velocity appears slow based on the median days on market 264, which suggests longer listing periods and softening turnaround despite a hot market temperature; this combination may indicate selective buyer activity and the need for targeted marketing to expedite sales.
4. Price momentum is positive—the price year-over-year trend is up and the market temperature is hot, while interest rate pressure is moderate; investors and sellers should weigh continued upside in prices against the moderate interest rate environment when timing listings or acquisitions.

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.