Is Verona, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Verona has remained a Seller's Market.
Key Takeaway
Verona is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Verona, NJ
How much do homes in Verona, NJ cost?
Median Sold Price
$658,000
-
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Verona have sold for 10.6% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $236K | $268K | +13.6% |
| 2 Bedrooms | $430K | $545K | +26.7% |
| 3 Bedrooms | $607.5K | $672K | +10.6% |
| 4 Bedrooms | $712.5K | $825K | +15.8% |
| 5+ Bedrooms | $925K | $1.0M | +9.5% |
Summary: Verona housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 9.5%.
Median Sold Price Compared To Nearby Cities
| Essex Fells | $865K | $1.4M | +61.8% |
| Montclair | $986.7K | $1.2M | +21.7% |
| Montclair Township | $989.5K | $1.2M | +21.4% |
| Verona | $595K | $658K | +10.6% |
| Verona Township | $595K | $658K | +10.6% |
Housing Supply in Verona, NJ
How many homes are available in Verona, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 39 | 44 | +12.8% |
Summary: The Verona real estate market had 44 homes for sale in April 2024, a 12.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 14 | 14 | 0.0% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Verona housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 20%, 3 bedroom homes remained the same, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Verona, you could pay more than the asking price. 70% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Verona in April 2024, up by 25.0% month-over-month. Of the 10 sold homes, 0% were sold under asking, 30% were sold at asking, and 70% were sold over asking.
Days on Market for Verona, NJ
We’re sorry, we don't have information for this market at the moment
