Verona Real Estate Market Strengthens


Share post:

StrongBlocksHomes in Verona are selling faster than a year ago. In January 2015, homes that went under contract took an average of 54 days. For the same period of 2014, the average days on the market was more than double, at 112 days. The shorter period of time a home is on the market is a sign of a strengthening market.

In January 2015 there were a total of 67 active listings on the market. Of those 67 listings, 12 went under contract. That is about on par with a year ago where there were 64 listings and 11 went under contract.

There were 16 homes that closed in January 2015. The average sale price was $352,012, which is up 4% from January 2014, another positive indicator of market strength.

As of February 11, there were 23 single-family homes on the market in Verona. When condos and coops are included, there are 42 active listings in Verona. Prices range from $145,999 for a one-bedroom condo to $1,295,000 for a four-bedroom, three-and-a-half bath home on Oakridge Road.

Nearby, Montclair and Cedar Grove have fewer homes on the market than they had a year ago. “Low inventory levels continue to drive the stronger real estate market in our area,” says Rhodes Van Note & Co.’s broker/owner, Brigitte Van Note. “And with inventory being at such low levels, buyers will often expand their home search to include neighboring towns.”

This article was researched and written by Catherine Hicklin, a sales agent at Rhodes Van Note & Co. She can be reached at [email protected] or 973-945-6754.

Print Friendly, PDF & Email


Please enter your comment!
Please enter your name here

Related articles

Real Estate: 6 New Listings, 7 Open Houses, 1 Price Change

With six new listings this weekend and seven open houses, there seems to be heat in the Verona...

Library Program Encourages Reading To Children

Families are invited to join the 1,000 Books Before Kindergarten program at Verona Public Library. The 1,000 Books...

Putting The (Bike) Pedal To The Metal

Most of Verona’s student athletes have the summer off. Not Christian Duerk. The incoming Verona High School freshman...

Hilltop Conservancy To Hold Butterfly Walk

In recognition of the Hilltop Conservancy’s 20th anniversary, it is hosting a butterfly walk in the Hilltop Reservation...