2022 Hanover, NH Market Recap

2022 proved to be a tale of two markets in Hanover. On the one hand, the number of sales declined nearly -9% year-over-year. However, the sales volume of homes sold increased by 13.4%. The problem is two-fold...the number of homes for sale decreased by -13.2% in 2022, but buyers remained active. Continued demand and low inventory limited the number of sales, leading to increased selling prices year-over-year...a simple supply and demand issue. Most economists are predicting similar results in 2023, but with inventory increasing slightly, which should take some of the pressure off buyers. It's a great time to sell if you are thinking of doing so in 2023.