Drive down a Verona street now, and it sometimes seems that every other house is for sale. We are definitely still in a sellers market here and data from the first five months of 2021 show that it is even more of a sellers market than it was in 2020.
According to data from Hearth Realty Group, 76 single-family homes in Verona were listed for sale from January through May this year. That’s down 14.6% from the same period in 2020 despite every real estate agent in town working flat-out for more listings. But many more sales have closed in the first five months than in the 2020 period, and they are closing faster and at higher prices. The percentage of list price received was 105.9% through May, compared with 101.4% in the 2020 period. The median sales price was $597,500, up from $537,500 a year ago.
The townhouse and condo market has also been active, although at a slightly lower level than single-family homes. Fifty-nine townhouses or condos were listed from January through May, up from 53 in the 2020 period, and the median sales price inched up to $243,000 from $240,000. Hearth’s data indicates that it would take just 2.2 months to sell the active townhouse and condo inventory now, down from six months in 2020.
The absorption rate was tighter still for single family homes. It would take just 1.1 months to sell the active inventory in May, down from 3.1 from May 2020. And for you lovers of real estate history, here’s a nugget: In 2014, the absorption rate was 6.6 for single family homes. That folks, is what a buyers market looked like.
As for this weekend, there are seven new listings, seven open houses and three listings with lower prices. Here’s what’s happening, from lowest priced to highest in each category.
NEW LISTINGS
349 Bloomfield Avenue #79: 1 bed, 1 bath condo. 2nd floor unit near Verona Park. $199,900. Open house Sunday 2 to 4 p.m.
2 Claridge Drive #4EE: 2 bed, 2 bath condo in full-service high-rise building. Updated Kitchen. $449,000.
111 Elmwood Road: 3 beds, 1 1/2 baths. Front porch, walk0up attic. $469,900. Open house Sunday 1 to 3 p.m.
48 Brentwood Drive: 3 beds, 1 1/2 baths. Hardwood floors, fireplace. $539,900. Open house Saturday and Sunday, 1 to 3 p.m. both days.
1 Claridge Drive #511: 3 bed, 2 1/2 bath condo in full-service high-rise building. NYC views. $669,000.
117 Elmwood Road: 4 beds, 2 full & 2 half baths. Completely renovated Tudor. 3rd floor primary suite. $685,000. Open house Sunday 1 to 3 p.m.
27 Mountainview Road: 5 beds, 3 1/2 baths. Finished basement, fenced yard, near Verona Park. $899,000. Open house Sunday 2 to 4 p.m.
OPEN HOUSES
349 Bloomfield Avenue #79: 1 bed, 1 bath condo. 2nd floor unit near Verona Park. $199,900. Open house Sunday 2 to 4 p.m.
111 Elmwood Road: 3 beds, 1 1/2 baths. Front porch, walk0up attic. $469,900. Open house Sunday 1 to 3 p.m.
48 Brentwood Drive: 3 beds, 1 1/2 baths. Hardwood floors, fireplace. $539,900. Open house Saturday and Sunday, 1 to 3 p.m. both days.
27 Franklin Street: 3 beds, 2 1/2 baths. Split-level, dining room opens to deck, central air. $539,999. Open house Sunday, 2 to 4 p.m.
145 Hillside Avenue: 3 beds, 2 baths. Raised Ranch with open floor plan, paver patio, on quiet street. Price cut $20,000 to $599,000. Open house Sunday 2 to 4 p.m.
117 Elmwood Road: 4 beds, 2 full & 2 half baths. Completely renovated Tudor. 3rd floor primary suite. $685,000. Open house Sunday 1 to 3 p.m.
27 Mountainview Road: 5 beds, 3 1/2 baths. Finished basement, fenced yard, near Verona Park. $899,000. Open house Sunday 2 to 4 p.m.
PRICE CHANGES
1 Claridge Drive #727: 2 bed, 2 bath condo in full-service high-rise building. New windows, sliders to terrace. Price cut another $43,750 to $355,000.
145 Hillside Avenue: 3 beds, 2 baths. Raised Ranch with open floor plan, paver patio, on quiet street. Price cut $20,000 to $599,000. Open house Sunday 2 to 4 p.m.
16 Afterglow Avenue: 3 beds, 2 baths. Ranch, updated throughout, large deck. Price cut $30,000 to $699,000.
