The Trend in Home Sales in Hanover MA - Improving, or...?
Home prices in Hanover on average are rising! Home prices have risen 2.3% since July of 2009.
The current average listing price of homes for sale in Hanover MA is $542,289, down 3.2% from a month ago. Compare this to the current median sales price of $379,500 - where half of sales are above this amount and half below it.
Prices of 2 bedroom homes are down from year ago levels while prices of 3 and 4 bedroom homes are up. Prices of 2 bedroom homes are down 13.5% while prices of 3 bedroom homes are up 2.4% and 4 bedroom homes are up 35.8% from year ago levels. Below is a chart of the trend of median prices of homes for sale in Hanover MA over the past 5 years through July 2010:
Although cyclical, the number of sales for all homes have been fairly flat over the past 5 years:
So what does all this mean? Well, if you're looking for a home in Hanover, you can probably find a bargain. Still, lowball offers won't cut it in a market like this. Sellers aren't in control of the market either, so both buyers & sellers should be reasonable when negotiating.
You can still buy a home with no money down with a VA Loan or with a USDA Rural Development Home Loan. With the FHA Mortgage program, you can purchase a home with as little as 3.5% down. With a MassHousing loan, you can purchase a home with as little as 3.0% down. When you're ready to buy a home, find out how much house you can afford to buy in Hanover or in the surrounding area.
Be sure to contact me, Lew Corcoran, toll free at 1-800-984-3341, when you're looking to get pre-approved for a purchase of your next home in Hanover or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.
|
Lew Corcoran Best Choice Real Estate Services Serving Easton MA and the Surrounding Area |
Search the MLS for: Homes for Sale | Homes for Rent Short Sales (Pre-Foreclosures) Government and Bank Foreclosed Homes for Sale Learn how to Avoid Foreclosure with Home Rescue Plans Get the latest Easton MA Real Estate Market News |




