The Long & Foster Market Minute

Focus On: Hanover, Spring Grove, and Glenville Housing Market September 2021

Zip Code(s): 17331, 17362, 17329 and 17311
Units Sold
142
Active Inventory
105
Median Sale Price
$237,000
Days On Market
20
Up 26%
Vs. Year Ago
Down -48%
Vs. Year Ago
Up 20%
Vs. Year Ago
Down -43%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 142 sold this month in Hanover, Spring Grove, and Glenville Real Estate versus 128 last month, an increase of 11%. This month's total units sold was higher than at this time last year, an increase of 26% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 96 units or 48%. The total number of active inventory this September was 105 compared to 201 in September 2020. This month's total of 105 is lower than the previous month's total supply of available inventory of 129, a decrease of 19%.

Median Sale Price
Last September, the median sale price for Hanover, Spring Grove, and Glenville Homes was $197,500. This September, the median sale price was $237,000, an increase of 20% or $39,500 compared to last year. The current median sold price is 5% lower than in August.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
109
Current Contracts
98
Sold Vs. List Price
99.8%
Months of Supply
0.7
Down -25%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 0.5%
Vs. Year Ago
Down -58%
Vs. Year Ago

Months of Supply
In September, there was 0.7 months of supply available in Hanover, Spring Grove, and Glenville, compared to 1.8 in September 2020. That is a decrease of 58% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 109 homes newly listed for sale in Hanover, Spring Grove, and Glenville compared to 146 in September 2020, a decrease of 25%. There were 98 current contracts pending sale this September compared to 115 a year ago. The number of current contracts is 15% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Hanover, Spring Grove, and Glenville was 99.8% of the average list price, which is 0.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 35, a decrease of 43%.

The Long & Foster Market Minute Hanover, Spring Grove, and Glenville are defined as properties listed in zip code/s 17331, 17362, 17329 and 17311.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.