Hanover County, VA Real Estate Market Update
November 2022 vs November 2025
The Hanover County housing market continues to adjust from the fast paced conditions of 2022 into a more balanced and strategic market in 2025. By comparing November data over the past four years, we can see how inventory, pricing and buyer behavior have evolved – and what it means for buyers and sellers today.
🏠︎ New Listings: Still Limited Supply
New listings remain lower than 2022 levels, even with some year to year fluctuation.
- 2022: 92 new listings in November
- 2023: 75 new listings in November
- 2024: 101 new listings in November
- 2025: 81 new listings in November
✔️ Fewer new listings mean sellers continue to benefit from limited competition.
✍🏻 Pendings: Buyer Activity Remains Steady
Despite changing market conditions, homes are still going under contract at healthy levels.
- 2022: 85 homes under contract in November
- 2023: 64 homes under contract in November
- 2024: 107 homes under contract in November
- 2025: 94 homes under contract in November
📊 Buyer demand in 2025 is stronger than in both 2022 and 2023.
💰 Sales Price vs List Price: Near Asking Is The Norm
Homes in Hanover County continue to sell very close to the asking price.
- 2022: Sellers got 100.1% of their asking price on average
- 2023: Sellers got 100.3% of their asking price on average
- 2024: Sellers got 101.1% of their asking price on average
- 2025: Sellers got 100.1% of their asking price on average
✨ Pricing remains strong, even as the market balances.
👀 Showings Per Listing: More Selective Buyers
Buyer urgency has cooled compared to 2022.
- 2022: 4.9 showings per listing
- 2023: 4.3 showings per listing
- 2024: 4.6 showings per listing
- 2025: 3.7 showings per listing
🔎 Buyers are taking a more thoughtful, intentional approach.
☑️ Homes Closed: Consistent Activity
Closed sales reflect a stable but less frantic market.
- 2022: 117 homes closed in November
- 2023: 98 homes closed in November
- 2024: 120 homes closed in November
- 2025: 91 homes closed in November
⚖️ Fewer closings in 2025 align with reduced inventory and longer marketing times.
📅 Days on Market: A More Balance Pace
- 2022: 25 days for a home to go under contract in November
- 2023: 32 days for a home to go under contract in November
- 2024: 31 days for a home to go under contract in November
- 2025: 32 days for a home to go under contract in November
🗓️ Homes are taking about a week longer to sell than in 2022 – normalizing expectations for both sides.
📈 Average Sales Price: Long Term Growth
- 2022: $485,559 average sales price of a home sold in November
- 2023: $534,121 average sales price of a home sold in November
- 2024: $505,076 average sales price of a home sold in November
- 2025: $526,837 average sales price of a home sold in November
💵 Despite some annual fluctuation, prices are up over $41,000 since 2022!
🎯 Inventory Levels: Continue to be Tight
- Active Listings at month end (November 2025): 240 homes on the market
- Months of Inventory (the # of months for all inventory of homes to sell – if no other homes come on the market for sale):
- 2022: 2.1 Months
- 2023: 2.4 Months
- 2024: 2.3 Months
- 2025: 2.2 Months
🏠🏠🏠 This keeps Hanover County firmly in a seller-leaning market
🔑 The Bottom Line
Hanover County’s real estate market in November 2025 offers more balance than the frenzy of 2022, while still delivering strong prices and steady demand. Sellers can still expect solid results with the right strategy, and buyers benefit from more choices and less competition per home.
