Comprehensive market data and analysis• Updated Dec 2025
6.0 months of supply
Market conditions are relatively balanced between buyers and sellers.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | 1 | 2 | 3 | 9 |
| 1-2 acres | - | - | - | - |
| 2-5 acres | - | 1 | 1 | 1 |
| 5-10 acres | - | - | - | - |
| 10-20 acres | - | - | - | - |
| 20-50 acres | - | - | - | - |
| 50-100 acres | - | - | - | - |
| 100+ acres | - | - | - | 1 |
| TOTAL | 1 | 3 | 4 | 11 |
Acreage buckets
The median price for land in Hanover, Minnesota is currently $1.9M per acre. For a typical parcel, the median sale price is $424K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $336K while premium lots reached $611K.
Hanover, Minnesota is currently a balanced market with 6.0 months of supply. Conditions favor neither buyers nor sellers significantly. Prices have decreased 2.7% year-over-year.
Hanover, Minnesota currently has 6.0 months of inventory supply. This indicates a balanced market. Low supply means competition for available properties is high.
Over the past 12 months, Hanover, Minnesota saw 18 properties sold, totaling $8.0M in sales volume. In just the last 3 months, 3 properties changed hands.
There are currently 6 active listings in Hanover, Minnesota. 2 new listings have hit the market in the last 90 days. The median asking price is $228K.
Land in Hanover, Minnesota typically sells within 425 days of listing. The median time on market is 430 days. Properties are moving slowly in the current balanced market.
The current absorption rate in Hanover, Minnesota is 16.7% (3-month basis), indicating strong demand. With depreciating values (-2.7% YoY), buyers may find value opportunities. The top-performing broker in this market is JPW Realty.
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.
