Is Verona, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Verona was a Seller's Market.
Key Takeaway
Verona is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Verona, NJ
How much do homes in Verona, NJ cost?
Median Sold Price
$640,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Verona have sold for 7.9% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | $262K | +6.9% |
| 2 Bedrooms | $428.7K | $545K | +27.1% |
| 3 Bedrooms | $631K | $658K | +4.3% |
| 4 Bedrooms | $740.5K | $795K | +7.4% |
| 5+ Bedrooms | $925K | $875K | -5.4% |
Summary: Verona housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 27.1%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 5.4%.
Median Sold Price Compared To Nearby Cities
| Montclair Township | $990K | $1.1M | +19.6% |
| Montclair | $989.8K | $1.1M | +18.8% |
| Verona | $593K | $640K | +7.9% |
| Verona Township | $593K | $640K | +7.9% |
Housing Supply in Verona, NJ
How many homes are available in Verona, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 39 | +18.2% |
Summary: The Verona real estate market had 39 homes for sale in March 2024, a 18.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Verona housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Verona, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Verona in March 2024, down by 28.6% month-over-month. Of the 5 sold homes, 0% were sold under asking, 40% were sold at asking, and 60% 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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