Home Values

07044 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$444,600

  • 9.3% 1-year change
  • 4.3% 1-year forecast

The median home value in 07044 is $444,600. 07044 home values have gone up 9.3% over the past year and Zillow predicts they will rise 4.3% within the next year. The median list price per square foot in 07044 is $232, which is the same as the Verona average of $232. The median price of homes currently listed in 07044 is $429,950 while the median price of homes that sold is $420,750. The median rent price in 07044 is $1,490, which is the same as the Verona median of $1,490.

Foreclosures will be a factor impacting home values in the next several years. In 07044 1.1 homes are foreclosed (per 10,000). This is the same as the Verona value of 1.1 and also lower than the national value of 3.9

With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 07044 homeowners underwater on their mortgage is 7.2%, which is lower than Verona at 7.3%.

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Relative ZHVI
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07044 Market Overview

Data through Feb 28, 2015
  • $444,600 ZHVI
  • 4.3% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Feb 29, 2016)
  • $429,950 Median listing price
  • $420,750 Median sale price (Dec 31, 2014)
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07044 Market Health

Data through Feb 28, 2015
  • 7.8/10 Very healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 7.2% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • No data Delinquent on mortgage (6.3% US Avg)

Homes foreclosed (per 10,000)

1.1 homes(Dec 31, 2014) 07044
1.1 homes(Dec 31, 2014) Verona
3.9 homes United States
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Nearby Zip Codes

Name Median ZHVI
07021 $801,100
07043 $606,400
07028 $520,700
Name Median ZHVI
07006 $481,800
07042 $458,400
07009 $421,100
Name Median ZHVI
07424 $330,000
07052 $326,600
07003 $271,000

Listings & Sales

Data through Feb 28, 2015
  • $232 Median list price / sq ft
  • $251 Median sale price / sq ft (Dec 31, 2014)
  • 14.2% Listings with price cut
17.8%
Sold below listing
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07044 Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $2,102 07044
    $2,096 Verona
    $1,355 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 3.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,490 Rent list price
  • $1.73 Rent list price / sq ft (Jan 31, 2015)
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