Is Verona Township, 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 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
$658,000
-
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Verona Township 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 Township 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 Township | $595K | $658K | +10.6% |
| Verona | $595K | $658K | +10.6% |
Housing Supply in Verona Township, NJ
How many homes are available in Verona Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 39 | 46 | +17.9% |
Summary: The Verona Township real estate market had 46 homes for sale in April 2024, a 17.9% 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 | 16 | +60.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Verona Township 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 60%, 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 Township, 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 Township 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 Township, NJ
We’re sorry, we don't have information for this market at the moment
