In February 2017, there were 16 homes sold, with a median sale price of $175,000 - a 18.2% increase over the $148,000 median sale price for the same period of the previous year. There were 17 homes sold in Hanover Park in February 2016.
The median sales tax in Hanover Park for 2017 was $4,932. In 2016, the median sales tax was $5,008. This marks an decrease of 1.5%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.8%.
The following table compares Hanover Park to other Cook County cities with similar median sales prices in February 2017:
| City | Feb. 2017 Home Sales | Feb. 2016 Home Sales | % change (Total Home Sales) | Feb. 2017 Median Sales Price | Feb. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Olympia Fields | 7 | 5 | 40% | $182,000 | $167,000 | 9% |
| Tinley Park | 42 | 40 | 5% | $179,500 | $157,500 | 14% |
| Schiller Park | 6 | 13 | -53.8% | $177,750 | $199,000 | -10.7% |
| Willow Springs | 5 | 8 | -37.5% | $176,000 | $180,000 | -2.2% |
| River Grove | 13 | 11 | 18.2% | $175,000 | $125,000 | 40% |
| Hanover Park | 16 | 17 | -5.9% | $175,000 | $148,000 | 18.2% |
| Oak Forest | 36 | 36 | 0% | $173,500 | $149,500 | 16.1% |
| Cicero | 48 | 51 | -5.9% | $164,500 | $135,000 | 21.9% |
| Melrose Park | 17 | 11 | 54.5% | $163,500 | $149,000 | 9.7% |
| Justice | 5 | 7 | -28.6% | $163,000 | $125,000 | 30.4% |
| Burbank | 17 | 20 | -15% | $162,000 | $135,750 | 19.3% |
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