Newark California

Newark, California, situated in the heart of the San Francisco Bay Area, offers a balanced blend of urban conveniences and suburban charm.

Shopping: Newark features a variety of shopping options, including New Park Mall, offering a diverse range of stores, boutiques, and dining choices for residents and visitors alike.

Nightlife: While not as bustling as nearby cities, Newark provides a selection of dining venues, bars, and entertainment options, perfect for a relaxed evening out.

Transportation: With easy access to major highways and proximity to public transit options like BART and AC Transit, commuting in and around Newark is convenient for residents.

Demographics: Newark boasts a diverse population, reflecting the rich cultural tapestry of the Bay Area, creating a welcoming and inclusive community.

Family Benefits: Families benefit from Newark's excellent schools, numerous parks, and family-oriented recreational activities, fostering a nurturing environment for children to thrive.

Economy: Newark's economy is robust, with a mix of industries including technology, manufacturing, and retail, providing ample job opportunities for residents.

Affordability: While housing costs in the Bay Area can be high, Newark offers relatively more affordable options compared to neighboring cities, making it an attractive choice for those seeking a balance between quality of life and affordability.

Overall, Newark provides a comfortable and welcoming environment for individuals and families, with its diverse amenities, strong economy, and accessible transportation options.

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MAI Trend

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Market Action Index (MAI)

Answers the question It’s an indicator of supply and demand and overall market competitiveness; i.e. whether it’s a buyer’s or seller’s market, or if the market is heating up or cooling off. “How’s the market?” by comparing the current rate of sales versus inventory plus additional demand metrics.

  • A MAI of around 30 indicates a balanced market, with just enough supply to meet demand.
  • A MAI in the low 20s or below is a buyer’s market, with more supply than demand and prices declining in the future.
  • A MAI of 35 or more points to a seller’s market, with demand outpacing supply and prices starting to rise.
  • A MAI of 45 or more is a strong seller’s market. inventory is very tight, demand is high, and prices are likely climbing.
Median Price Vs. New Listings Median Price

Median Prices Explained

Median List Price is the median price of homes for sale in the market. It is the most useful, accurate measure of the current market. If you see that the market’s Median List Price is climbing today, you’ll see sales prices and home values in that market climbing in the future. You can look at Median List Price as a barometer of sellers’ current confidence levels, as current individual pricing decisions are based on recent pending and closed transactions.

New Listings median Price

When I price a listing, I have the knowledge of all the recent activity nearby. I know if the house down the street got multiple offers in the first week, and I price the home accordingly

Inventory Explained

Inventory tells you how many homes are for sale in each market. Watch the inventory count for early indicators that sellers are returning to the market, and how fast. Inventory typically peaks in late June, with a trough in the second week of January. Rising inventory typically favors buyers, while tightening inventory favors sellers.

The inventory chart shows both 7 day and 90 day trends.

Inventory
Average Days on Market Vs. Median Days on Market

Days on Market Explained

Days on Market (DOM) is a measure of market velocity – how long it takes homes to sell. A non-seasonal increase in DOM could indicate some softness in the market; a drop in DOM points to a market that’s heating up.

DOM typically starts falling at the end of March during the peak buying season of April through June, then starts to climb in the second half of the year. However, this seasonal trend can vary depending on the market and the unique seasonal attributes of the area

Look at a couple of years of your market’s data to determine what’s “normal” for your area in each month

Percent Increased and Decreased Price Explained

$ Price Decrease

The percent of active listings that have received a price decrease is a measure of demand. In a normal market, we tend to see about 30-35% of sellers initially over-price their homes and eventually reduce the price to attract buyers. Below 30% signals solid demand at prevailing prices, while 40% or more generally indicates reduced demand

price decreases happen more in the fall when it’s time to move the listings before the holidays

$ Price Increase

Price increases, on the other hand, are usually under 5%. When you see price increases climbing, it’s often a sign of investor activity in a market, iBuyers and flips – or simply very high demand. This is a bullish signal for future sales prices and home values.

Increased Price Percent Vs. Decreased Price Percent
Relisted Percent

Relisted Inventory Explained

Percent Relisted points to deals falling through or listings expiring – the percent of homes on the market which we’ve seen listed, withdrawn and relisted

In a normal market, we typically see Percent Relisted under 10%, and in hot markets it’s just a couple percent. Contracts are much less likely to fall through or listings to be withdrawn when the buyers are most active.

Keep an eye on this stat as you're making decisions about buying or selling. As Percent Relisted increases, it tells us that weakening competition is creating opportunity for buyers. If Percent Relisted climbs dramatically, as it did in the summer of 2006, this can be an early signal of a coming market correction. Also remember to run this number for different price segments, as the market for higher-priced homes may behave differently.

Show Segments
Segment Median Price Beds Baths Average Sqft Price/Sqft Age DOM
Top 25% $1,723,579 4 3 2,334 $730 18 28
Upper 25% $1,559,072 4 3 1,783 $867 49 7
Lower 25% $1,332,692 4 2 1,589 $870 57 13
Bottom 25% $1,160,462 3 2 1,386 $872 65 14