Home Values

Hanover Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$218,600

  • 8.2% 1-year change
  • 2.5% 1-year forecast

The median home value in Hanover is $218,600. Hanover home values have gone up 8.2% over the past year and Zillow predicts they will rise 2.5% within the next year. The median price of homes currently listed in Hanover is $249,950.

Foreclosures will be a factor impacting home values in the next several years. In Hanover 9.3 homes are foreclosed (per 10,000). This is greater than the Richmond Metro value of 5.5 and also greater than the national value of 4.5

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Hanover is 3.3%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Hanover homeowners underwater on their mortgage is 14.6%, which is lower than Richmond Metro at 20.3%.

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Relative ZHVI
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Hanover Market Overview

Data through Oct 31, 2014
  • $218,600 ZHVI
  • 2.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $249,950 Median listing price
  • No data Median sale price
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Hanover Market Health

Data through Oct 31, 2014
  • 8.8/10 Very healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 14.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 3.3% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

9.3 homes(Sep 30, 2014) Hanover
5.5 homes Richmond Metro
4.5 homes United States
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Nearby Cities

Name Median ZHVI
Mechanicsville $230,700
Doswell $219,200
Ashland $218,700
Name Median ZHVI
Chamberlayne $177,900
Ruther Glen $160,400
Laurel $154,100
Name Median ZHVI
Lakeside $147,400
East Highland Park $114,000
Highland Springs $100,100

Listings & Sales

Data through Oct 31, 2014
  • $121 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 47.4% Listings with price cut
9.1%
Sold below listing
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Hanover Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $1,384 Hanover
    $1,319 Richmond Metro
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.9 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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