Home Values

Verona 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

$440,300

  • 12.6% 1-year change
  • 4.3% 1-year forecast

The median home value in Verona is $440,300. Verona home values have gone up 12.6% over the past year and Zillow predicts they will rise 4.3% within the next year. The median list price per square foot in Verona is $241, which is lower than the New York Metro average of $254. The median price of homes currently listed in Verona is $399,999 while the median price of homes that sold is $424,850. The median rent price in Verona is $1,450, which is lower than the New York Metro median of $2,300.

Foreclosures will be a factor impacting home values in the next several years. In Verona 1.1 homes are foreclosed (per 10,000). This is lower than the New York Metro value of 1.5 and also lower than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Verona is 9.1%, which is higher than the national value of 6.4%. 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 Verona homeowners underwater on their mortgage is 7.2%, which is lower than New York Metro at 13.6%.

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Relative ZHVI
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Verona Market Overview

Data through Dec 31, 2014
  • $440,300 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
    (Dec 31, 2015)
  • $399,999 Median listing price
  • $424,850 Median sale price (Oct 31, 2014)
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Verona Market Health

Data through Dec 31, 2014
  • 9.9/10 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)
  • 9.1% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

1.1 homes(Aug 31, 2014) Verona
1.5 homes New York Metro
4 homes United States
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Nearby Cities

Name Median ZHVI
Essex Fells $896,300
North Caldwell $725,500
Montclair $595,300
Name Median ZHVI
Glen Ridge $587,900
West Caldwell $475,000
Cedar Grove $457,200
Name Median ZHVI
Caldwell $447,000
West Orange $349,000
Little Falls $324,300

Listings & Sales

Data through Dec 31, 2014
  • $241 Median list price / sq ft
  • $262 Median sale price / sq ft (Oct 31, 2014)
  • 15.0% Listings with price cut
22.7%
Sold below listing
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Verona Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $2,127 Verona
    $2,340 New York Metro
    $1,345 United States

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

  • 3.7 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,450 Rent list price
  • $1.65 Rent list price / sq ft (Oct 31, 2014)
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