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| MARCH 2025 | |||
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| Units Sold 99 |
Active Inventory 248 |
Median Sale Price $466,000 |
Days On Market 27 |
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| Up 19% Vs. Year Ago |
Down -16% Vs. Year Ago |
Down -7% Vs. Year Ago |
Down -23% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in March, with 99 sold this month in Hanover County Real Estate versus 87 last month, an increase of 14%. This month's total units sold was higher than at this time last year, an increase of 19% versus March 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 48 units or 16%. The total number of active inventory this March was 248 compared to 296 in March 2024. This month's total of 248 is higher than the previous month's total supply of available inventory of 240, an increase of 3%. |
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Median Sale Price
Last March, the median sale price for Hanover County Homes was $500,000. This March, the median sale price was $466,000, a decrease of 7% or $34,000 compared to last year. The current median sold price is 2% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 144 |
Current Contracts 115 |
Sold Vs. List Price 101.1% |
Months of Supply 2.5 |
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| Down -8% Vs. Year Ago |
Down -1% Vs. Year Ago |
No Change Vs. Year Ago |
Down -30% Vs. Year Ago |
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Months of Supply
In March, there was 2.5 months of supply available in Hanover County, compared to 3.6 in March 2024. That is a decrease of 30% 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. |
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New Listings & Current Contracts
This month there were 144 homes newly listed for sale in Hanover County compared to 156 in March 2024, a decrease of 8%. There were 115 current contracts pending sale this March compared to 116 a year ago. The number of current contracts is 1% lower than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Hanover County was 101.1% of the average list price, which is similar compared to a year ago. Days on Market
This month, the average number of days on market was 27, lower than the average last year, which was 35, a decrease of 23%. | |||
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| *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. | |||
 Information included in this report is based on data supplied by CVRMLS 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 CVRMLS or Long & Foster Real Estate, Inc. |
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