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HANOVER, MI 49241

Real Estate Market Report
Balanced Market
February 2026  ·  Source: Realtor.com

Market Analysis

Data as of February 2026. Source: Realtor.com.

The HANOVER, MI real estate market (49241) currently shows 5 active listings, with 1 pending sales. Homes are averaging 89 days on the market before going under contract.

Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice.

Homes are selling faster, averaging 89 days on market compared to 179 days last year.

The median listing price has risen 142.4% year-over-year, from $129,900 to $314,900.

Whether you are buying or selling in HANOVER, MI, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 1,859  ·  Density: 22.4/mi²  ·  Median household income: $85,208

Typical home value: $175,574  ·  Homeownership: 89.6%

Market Overview

Active Listings
5
⇧ 25% vs 4 last year
Pending
1
20% pending ratio
Median Price
$314,900
⇧ 142.4% vs $129,900 last year
Average Price
$297,012
⇧ 128.6% vs $129,900 last year
Days on Market
89
⇩ 50.3% vs 179 days last year

Price Per Square Foot

Median $/sqft
$190
⇧ 88.1% vs $101/sqft last year
Median Home Size
1,497 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 5 this year vs 4 last year
  • Days on market: 89 now vs 179 last year

Median & Average Pricing

Year over Year
  • Median: $314,900 (+142.4% YoY)
  • Average: $297,012 (+128.6% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 19.4 miles — 260 listings ($74,833,114 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
49241Hanover, MI 492410.0 mi4$1,233,464$347,500$308,366
49237Concord, MI 492375.5 mi7$2,084,320$219,900$297,760
49283Spring Arbor, MI 492837.6 mi4$1,332,000$359,000$333,000
49252Litchfield, MI 492529.5 mi8$2,359,520$349,999$294,940
49281Somerset, MI 4928111.7 mi1$270,000$270,000$270,000
49234Clarklake, MI 4923412.1 mi7$3,191,650$310,000$455,950
49203Jackson, MI 4920313.1 mi102$21,912,966$179,000$214,833
49227Allen, MI 4922713.6 mi3$899,700$299,900$299,900
49242Hillsdale, MI 4924215.0 mi61$20,401,572$285,000$334,452
49220Addison, MI 4922015.3 mi11$4,124,527$435,900$374,957
49254Michigan Center, MI 4925416.7 mi7$1,626,191$206,950$232,313
49266Osseo, MI 4926618.1 mi8$1,607,600$194,450$200,950
49230Brooklyn, MI 4923019.4 mi37$13,789,604$319,900$372,692

Frequently Asked Questions

How many homes are for sale in HANOVER, MI 49241?

As of February 2026, there are 5 active listings in HANOVER, MI (zip code 49241), compared to 4 the prior year.

What is the median home price in HANOVER, MI 49241?

The median listing price in HANOVER, MI 49241 is $314,900 as of February 2026, a 142.4% increase from $129,900 the prior year.

How long do homes stay on the market in HANOVER, MI?

Homes in HANOVER, MI 49241 spend an average of 89 days on the market before going under contract, compared to 179 days the prior year.

Is it a seller's or buyer's market in HANOVER, MI 49241?

Based on current inventory and days-on-market data as of February 2026, HANOVER, MI 49241 is currently a Balanced Market. Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice. Homes are selling faster, averaging 89 days on market compared to 179 days last year.

How much can I save on real estate commission in HANOVER, MI?

With SELL123.com's maximum 3% commission, sellers in HANOVER, MI 49241 save an estimated $6,298 compared to a typical 5% commission on the median listing price of $314,900. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.