$4,026 Closing Credit*
$339,000
1 Bed
•1 Full Bath, 1 Partial
Steven Gendel, Listing Office: Keller Williams Suburban Realty
Is Verona, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Verona was a Seller's Market.
Key Takeaway
Verona is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Verona, NJ
How much do homes in Verona, NJ cost?
Median Sold Price
$699,500
-
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$84,500(+13.7%)
Key Takeaway
Homes in Verona have sold for 13.7% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $257.5K | $300K | +16.5% |
| 2 Bedrooms | $515K | $525K | +1.9% |
| 3 Bedrooms | $640K | $710K | +10.9% |
| 4 Bedrooms | $750K | $872K | +16.3% |
| 5+ Bedrooms | $925K | $1.1M | +25.1% |
Summary: Verona housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 16.3%, and 5+ bedroom homes increased by 25.1%.
Median Sold Price Compared To Nearby Cities
| Essex Fells | $1.0M | $1.3M | +21.9% |
| Montclair | $1.1M | $1.3M | +18.2% |
| Montclair Township | $1.1M | $1.3M | +16.9% |
| Verona Township | $615K | $700K | +13.8% |
| Verona | $615K | $699.5K | +13.7% |
Housing Supply in Verona, NJ
How many homes are available in Verona, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 46 | 54 | +17.4% |
Summary: The Verona real estate market had 54 homes for sale in November 2024, a 17.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 14 | -12.5% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 12 | 13 | +8.3% |
| 4 Bedrooms | 6 | 14 | +133.3% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Verona housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 133.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Verona, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Verona in November 2024, down by 11.1% month-over-month. Of the 8 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% were sold over asking.
Days on Market for Verona, NJ
We’re sorry, we don't have information for this market at the moment
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