Comprehensive market data and analysis• Updated Dec 2025
27.0 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | - | - | - | - |
| 1-2 acres | - | - | - | - |
| 2-5 acres | - | - | - | 1 |
| 5-10 acres | - | - | - | - |
| 10-20 acres | - | - | - | 1 |
| 20-50 acres | - | - | 2 | 3 |
| 50-100 acres | - | - | - | - |
| 100+ acres | - | 1 | 1 | 1 |
| TOTAL | 0 | 1 | 3 | 6 |
Acreage buckets
The median price for land in Hanover, Illinois is currently $9K per acre. For a typical parcel, the median sale price is $315K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $56K while premium lots reached $1.4M.
Hanover, Illinois is currently a strong buyer's market with 27.0 months of supply. Buyers have more negotiating power and can take time to find the right property.
Hanover, Illinois currently has 27.0 months of inventory supply. This indicates a strong buyer's market. High supply means buyers have plenty of choices and stronger negotiating position.
There are currently 9 active listings in Hanover, Illinois. 3 new listings have hit the market in the last 90 days. The median asking price is $383K.
Land in Hanover, Illinois averages $9K per acre. The median price per acre is $9K, which may be more representative of typical transactions. Most parcels sold are around 35.6 acres.
The current absorption rate in Hanover, Illinois is 3.7% (3-month basis), indicating slow demand. The top-performing broker in this market is Whitetail Properties Real Estate, LLC.
Over the past 12 months, Hanover, Illinois saw 6 properties sold, totaling $3.5M in sales volume. In just the last 3 months, 1 properties changed hands.
Market statistics are compiled from multiple sources including LandyDandy listings, Zillow.com, Realtor.com, Redfin.com, county records, and MLS data. While we strive for accuracy, these figures are estimates and may not reflect 100% of market activity. Data is updated regularly but some transactions may have reporting delays. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
