Is Newark Township, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Newark Township has remained a Seller's Market.
Key Takeaway
Newark Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newark Township, OH
How much do homes in Newark Township, OH cost?
Median Sold Price
$227,406
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Newark Township have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Newark Township was $227,406 in May 2024, up 4.6% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $113.5K | $145K | +27.8% |
| 2 Bedrooms | $146.2K | $171.7K | +17.4% |
| 3 Bedrooms | $228.5K | $238.5K | +4.4% |
| 4 Bedrooms | $312.5K | $290K | -7.2% |
| 5+ Bedrooms | $432.5K | $332.7K | -23.1% |
Summary: Newark Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.8%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 7.2%, and 5+ bedroom homes decreased by 23.1%.
Median Sold Price Compared To Nearby Cities
| Newton Township | $242.4K | $282.5K | +16.5% |
| Newark | $208K | $227.4K | +9.3% |
| Granville Township | $442.9K | $470K | +6.1% |
| Newark Township | $217.4K | $227.4K | +4.6% |
| Madison Township | $199.9K | $209K | +4.5% |
Housing Supply in Newark Township, OH
How many homes are available in Newark Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 214 | 240 | +12.1% |
Summary: The Newark Township real estate market had 240 homes for sale in May 2024, a 12.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 52 | 49 | -5.8% |
| 3 Bedrooms | 99 | 118 | +19.2% |
| 4 Bedrooms | 51 | 57 | +11.8% |
| 5+ Bedrooms | 12 | 16 | +33.3% |
Summary: The Newark Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.8%, 3 bedroom homes increased by 19.2%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 63 | 81 | +28.6% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newark Township, you may be able to get a good deal. 40.7% of homes here sold below asking price last month.
Summary: A total of 81 homes were sold or pending in Newark Township in May 2024, up by 28.6% month-over-month. Of the 81 sold homes, 41% were sold under asking, 21% were sold at asking, and 38% were sold over asking.
Days on Market for Newark Township, OH
How long does it take to sell a home in Newark Township, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 27 Days | +92.7% |
Summary: Homes in Newark Township had an average of 27 days on market in May 2024, up by 92.7% compared to last year.
Breakdown of Home Sale Times
56 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newark Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 81 homes were sold in Newark Township; 69% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. 
Copyright 2024 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.