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Real Estate: 2020 In Review

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The entrance to 39 Afterglow, the Verona property that had the highest sale price in 2020.

Last year was a dismal year on many fronts, but Verona real estate wasn’t one of them. In 2020, there were 243 residential properties sold in Verona and more than half–131 homes–sold at, or above, their asking price. The 2020 total was up from 226 sold in 2019.

According to Josh Jacobs, the broker of record at Hearth Realty Group, the average sold price town-wide rose to $490,000 for 2020, up from $468,000 for 2019. Verona had five sales over $1 million in 2020, and the highest sale was 39 Afterglow Way, which went for a whopping $1.6 million.

There was one thing that was lower in 2020: The average number of days that a property stayed on the market. That fell sharply to 40 days, from 49 days in 2019.

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Jacobs is seeing a bright start to 2021. “We expect to see an earlier than average spring market this year,” he says. “Sellers are preparing their homes for sale now, rather than waiting for March and April.”

“I expect the average sales price and days on market to continue to improve in 2021 as New York buyers continue to make the move to the suburbs,” Jacobs adds. “Since the start of the pandemic, real estate has been considered an essential service and we continue to operate with the same safety precautions and technology enhancements that we put into place last March: Limiting open houses, utilizing virtual tours and requiring masks, gloves and shoe covers for everyone entering the home.”

There are five open houses this weekend between Saturday and Sunday, but only one new listing. Here’s what’s happening, from lowest priced to highest in each category:

NEW LISTINGS
63 Woodland Avenue: 3 beds, 2 baths. Split-level with with in-ground pool, outdoor deck. $525,999.

OPEN HOUSES
94 Durrell Street: 5 beds, 4 baths. Brick Colonial near Verona High School. Price cut another $4,000 to $515,000. Open house Sunday, 1 to 3 p.m. 

121 Hillside Avenue: 2 beds, 2 1/2 baths. Center hall Colonial with new windows, central a/c. $585,000. Open house Sunday, 1 to 4 p.m. 

39 Wayland Drive: 5 beds, 3 baths. Center hall colonial. Patio overlooks golf course. $699,000. Open house Sunday, 2 to 4 p.m. 

32 Otsego Road: 4 beds, 4 baths. New construction, second-floor laundry. $855,000. Open house Saturday and Sunday, 2 to 4 p.m. both days.

256 Fairview Avenue: 5 beds, 5 1/2 baths. Living room with 2-story ceiling, first-floor master suite. $990,000. Open house Saturday, noon to 3:30 p.m.

PRICE CHANGES
1 Claridge Drive #313: 1 bed, 1 1/2 bath condo in full-service high-rise building. Hardwood floors. Price cut another $1,100 to $227,900. 

94 Durrell Street: 5 beds, 4 baths. Brick Colonial near Verona High School. Price cut another $4,000 to $515,000. Open house Sunday, 1 to 3 p.m. 

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