A half million dollars has long been the psychological upper end of house prices in Verona. Compared to Montclair and North Caldwell, we’re a community of mostly modest homes. That was something of a good thing during the recession, because it kept Verona from suffering the large real estate pullback that our neighbor to the east experienced.
Since the recession ended, houses priced at $500,000 or less have been moving pretty briskly, and quite a few properties above that price point have come on the market. 21 Stocker Road was put on the market last November $899,999. It’s a stunning property with a kitchen larger than most of the apartments in town. The living room comfortably fits a baby grand; it probably could fit a chamber orchestra to go along with it. But it hasn’t yet found a fit with a buyer. In March, the price was cut $34,999 to $865,000, and in May, the price was dropped again to $845,000. This weekend, another $25,000 was taken off the listing price, taking it down to $820,000.
It’s not the only high-end house to have a price adjustment. 22 Howell Drive, a 4 bed, 3 baths contemporary that looks, from the maps, like it ought to carry a West Orange zip code, first came on the market in March at $679,000. It’s just been re-priced at $639,000.
It’s otherwise a light market as we approach the end of August in Verona real estate. There are two new listings (both for condos) and five open houses. Here’s what’s happening in each category, from lowest, priced to highest:
New Listings
349 Bloomfield Avenue: 1 bed, 1 bath condo near NYC bus. Updated kitchen. $184,000.
27 Wedgewood Drive: 1 bed, 1 bath condo. Second-floor unit with washer/dryer. New windows. $199,500.
Open Houses
19 Mount Prospect Avenue: 4 beds, 3 baths. Central air, deep yard. $375,000. Open house Sunday, 1 to 4 p.m.
1 Brookdale Court: 3 beds, 2 baths. Central A/C, 2-car garage. Steps to school. $379,000. Open house Sunday, 1 to 4 p.m.
22 Elmwood Road: 3 beds, 1 1/2 baths by Everett Field. Kitchen opens to deck. $412,900. Open house Sunday 1 to 5 p.m.
9 Martin Road: 4 beds, 4 baths. Master with walk-in closet, finished basement. $515,000. Open house Sunday, 2 to 4 p.m.
73 Fairway Avenue: 5 beds, 3 1/2 baths. Eat-in kitchen opens to yard, in-ground pool. $599,000. Open house Sunday 1 to 5 p.m.
Price Changes
22 Howell Drive: 4 beds, 3 baths. Contemporary. Master suite with double walk-in closets. Cut $40,000 to $639,000.
21 Stocker Road: 4 beds, 4 baths. Colonial with sweeping entry staircase, formal dining room, library, finished basement. Cut another $25,000 to $820,000.
