$3,384 Closing Credit*
$285,000
1 Bed
•1 Full Bath
Lynne Mortimer, Listing Office: Coldwell Banker, Montclair
Is Verona, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$699,000
-
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$94,000(+15.5%)
Key Takeaway
Homes in Verona have sold for 15.5% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $259K | $296.3K | +14.4% |
| 2 Bedrooms | $512.5K | $540K | +5.4% |
| 3 Bedrooms | $631K | $690.5K | +9.4% |
| 4 Bedrooms | $699.7K | $872K | +24.6% |
| 5+ Bedrooms | $925K | $1.2M | +31.7% |
Summary: Verona housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 24.6%, and 5+ bedroom homes increased by 31.7%.
Median Sold Price Compared To Nearby Cities
| Verona Township | $605K | $699.5K | +15.6% |
| Verona | $605K | $699K | +15.5% |
| Montclair | $1.1M | $1.2M | +15.1% |
| Montclair Township | $1.1M | $1.2M | +13.9% |
Housing Supply in Verona, NJ
How many homes are available in Verona, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 53 | +26.2% |
Summary: The Verona real estate market had 53 homes for sale in October 2024, a 26.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 15 | +15.4% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 9 | 14 | +55.6% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Verona housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Verona, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Verona in October 2024, down by 20.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Verona, NJ
How long does it take to sell a home in Verona, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Verona are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in Verona; 13% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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