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Newark Real Estate Prices And Market Stats

  • 106 Total For Sale
  • 6 New Listings
  • 5 Price Change

There are currently 106 properties for sale and Newark real estate prices are between $419,500 and $1,639,234. The median price for homes that are currently for sale is $874,944. Homes are selling for about $577 per square foot. If you are serious about buying a home, we highly recommend setting up a market watch notification so you don't miss out.

Median Price

$874,944

$419,500
Lowest Priced

$1,639,234
Highest Priced

Avg Price/SQFT

$577

$49
Lowest

$799
Highest

Avg DOM

33

Newark Residential Real Estate Analysis

June 2019 VS. June 2018

Detached Homes

Unit Sales

29 Sales -26% (39)

Median Sales Price

$906,500 -11% ($1,020,000)

Avg $/sqft

$625 -9% ($683)

Average Days On Market

33 139% (14)

Selling/listing Price

98% -11% (110%)

Condos

Unit Sales

7 Sales 75% (4)

Median Sales Price

$667,000 -5% ($700,000)

Avg $/sqft

$508 -14% ($591)

Average Days On Market

32 10% (29)

Selling/listing Price

99% -10% (110%)

Townhomes

Unit Sales

3 Sales -57% (7)

Median Sales Price

$928,000 9% ($850,000)

Avg $/sqft

$500 -4% ($524)

Average Days On Market

48 328% (11)

Selling/listing Price

95% -14% (110%)

Newark Sales Rate (Absortion Rate)

This is a measure, in weeks, of how long it would take to sell all of the existing properties currently for sale in Newark based on the recent historic rate of sales. It is calculated by dividing the number of active listings by the run-rate of sales for properties in Newark over the last months years. It does not account for seasonal variance, which can be significant. Normally the run rate will accelerate in the spring/summer and slow down in the fall/winter. This means that in a "normal year" the trends will slightly over state the index in the spring/summer and understate it in the fall/winter. Basically, this measure attempts to place the current inventory into the context of whether it is a Buyer's, Seller's or Balanced market. Buyer's market is over 16 weeks and a seller's market is under 16 weeks.

Detached Homes

Sales per Week

8.75 sold/week

total Currently for sale

73

Absorption Rate

8.34 weeks

Condos

Sales per Week

2.00 sold/week

total Currently for sale

17

Absorption Rate

8.50 weeks

Townhomes

Sales per Week

1.33 sold/week

total Currently for sale

13

Absorption Rate

9.75 weeks

All

Sales per Week

12.17 sold/week

total Currently for sale

106

Absorption Rate

8.71 weeks

Newark Real Estate Price trends

Key Insights
  • The monthly median selling price is on a 4 month price trend where property prices have increased 5%

The real estate price trend chart shows the median selling prices for homes over time. A moving average (MA) is a widely used indicator in technical analysis that helps smooth out price action by filtering out the "noise" from random short-term price fluctuations. Use this chart with the inventory chart to determine if prices for homes will be going up or down.

Home Price Quartiles

Looking at the market in quartiles, where each quartile is 25% of home, ordered by price

Quartile Median Price Avg. Sqft Avg. DOM Avg Year Built New Listings Total Listings
Top/First $1,139,000 2,085 19 1988 0 35 Most Expensive 25% of properties
Upper/Second $925,000 1,571 16 1981 0 35 Upper-middle 25% of properties
Lower/Third $849,000 1,362 20 1972 0 35 Lower-middle 25% of properties
Bottom/Fourth $618,000 1,211 10 1976 0 35 Least expensive 25% of properties

Newark Price Per Square Foot Trends

The median and average square foot price trends. The square foot price is one of the best ways to get a good rough estimate of your homes worth.

Newark Home SQFT Price Quartiles

If you try to use the average cost per foot to determine the approximate fair market value (FMV) of another property, you should be careful to understand a few key issues. First, the cost per foot tends to decrease as properties increase in size. In other words, the most expensive homes in Newark, on a cost per foot basis, will tend to be the smallest properties. This is because economies of scale make larger properties less expensive on a cost per foot basis. You should adjust the cost per foot up or down if the subject property is smaller or larger than the average sized home in Newark. The Home SQFT Price Quartiles chart helps give you a better understanding of sqft price and home size.

Quartile (# Listings) Sqft Range Avg. Sqft Price Median Price Avg. DOM Avg Year Built
Largest 25% sqft (35) 1,866 - 3,351 $521 $1,135,000 20 1992
Upper-middle 25% sqft (35) 1,464 - 1,856 $573 $928,000 16 1985
Lower-middle 25% sqft (35) 1,190 - 1,460 $606 $850,000 13 1973
Smallest 25% sqft (35) 757 - 1,190 $648 $700,000 13 1968

Newark Real Estate Inventory - Monthly Active, Pending and Sold Activity

The real estate inventory chart shows the relations between the total number of properties that are listed each month, placed under contract each month (pending) and sold each month. This chart is good at determining the supply and demand of properties. When trying to find trends in home prices, I look at the number of the new home listings and the current price trends.

Date Median Price DOM Avg $/sqft Sales Ratio
Jun/2019 $888,888 19 $594 99.91%
May/2019 $850,000 13 $573 100.65%
Apr/2019 $893,444 16 $596 100.37%
Mar/2019 $887,388 30 $598 100.05%
Feb/2019 $871,475 39 $598 97.98%
Jan/2019 $860,000 35 $581 98.84%
Dec/2018 $893,975 24 $564 96.33%
Nov/2018 $836,500 22 $583 99.15%
Oct/2018 $898,000 16 $639 99.95%
Sep/2018 $899,000 18 $619 101.20%
Aug/2018 $912,000 14 $639 105.53%
Jul/2018 $899,000 10 $645 106.90%
Jun/2018 $888,800 9 $652 110.82%

Complete Residential Inventory

Below is all the properties currently for sale in Newark, sorted by number of bedrooms.

Condo

Bedrooms Active Listings Median Price Avg Price Avg Sqft Median Cost/foot Avg Cost/foot
1 1 $419,500 $419,500 777 $539 $540
2 12 $578,888 $575,025 1,029 $546 $560
3 3 $659,950 $739,906 1,416 $514 $521
4 1 $1,099,880 $1,099,880 2,109 $521 $522
all 17 $579,888 $625,847 1,146 $540 $550

Detached - Single Family Homes

Bedrooms Active Listings Median Price Avg Price Avg Sqft Median Cost/foot Avg Cost/foot
3 47 $874,888 $907,665 1,464 $627 $637
4 17 $1,000,000 $1,055,996 1,942 $545 $553
5 7 $1,487,750 $1,402,942 7,042 $547 $460
6 2 $1,072,500 $1,072,500 2,158 $497 $497
all 73 $948,888 $994,216 2,129 $577 $597

Duet

Bedrooms Active Listings Median Price Avg Price Avg Sqft Median Cost/foot Avg Cost/foot
3 3 $849,000 $823,000 1,476 $555 $557
all 3 $849,000 $823,000 1,476 $555 $557

Townhouse

Bedrooms Active Listings Median Price Avg Price Avg Sqft Median Cost/foot Avg Cost/foot
2 6 $571,000 $564,325 1,100 $519 $514
3 5 $660,000 $731,358 1,412 $522 $519
4 2 $1,019,500 $1,019,500 2,161 $472 $472
all 13 $659,950 $698,595 1,383 $518 $510