$3,263 Closing Credit*
$274,800
1 Bed
•1 Full Bath
Richard Leonard, Listing Office: Arcadia Realtors
Is Verona Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Verona Township has remained a Seller's Market.
Key Takeaway
Verona Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Verona Township, NJ
How much do homes in Verona Township, NJ cost?
Median Sold Price
$669,000
-
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$59,000(+9.7%)
Key Takeaway
Homes in Verona Township have sold for 9.7% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $257.5K | $306K | +18.8% |
| 2 Bedrooms | $515K | $520K | +1.0% |
| 3 Bedrooms | $640K | $670K | +4.7% |
| 4 Bedrooms | $752K | $873.5K | +16.2% |
| 5+ Bedrooms | $925K | $1.0M | +11.2% |
Summary: Verona Township housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.8%, 2 bedroom homes increased by 1%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 11.2%.
Median Sold Price Compared To Nearby Cities
| Montclair | $1.1M | $1.3M | +17.3% |
| Montclair Township | $1.1M | $1.3M | +16.4% |
| Verona Township | $610K | $669K | +9.7% |
| Verona | $610K | $667K | +9.3% |
| Essex Fells | $1.2M | $1.2M | +4.5% |
Housing Supply in Verona Township, NJ
How many homes are available in Verona Township, NJ?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 51 | 48 | -5.9% |
Summary: The Verona Township real estate market had 48 homes for sale in December 2024, a 5.9% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 14 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 15 | 14 | -6.7% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Verona Township housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Verona Township, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Verona Township in December 2024, up by 11.1% month-over-month. Of the 10 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.
Days on Market for Verona Township, NJ
We’re sorry, we don't have information for this market at the moment
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