Housing Prices in Newark, NJ
How much do homes in Newark, NJ cost?
Median List Price
$462,318
$242/sqft
Based on all homes listed in the last 12 months.
Difference Since May 2023
Summary: The median home list price in Newark was $462,318 in May 2024, up 33% from the previous year, and the median price per square foot was $242.
Median List Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $200K | $225K | +12.5% |
2 Bedrooms | $280K | $304.5K | +8.8% |
3 Bedrooms | $328K | $360K | +9.8% |
4 Bedrooms | $380K | $429.9K | +13.1% |
5+ Bedrooms | $427K | $599.9K | +40.5% |
Summary: Newark housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 40.5%.
Median List Price Compared To Nearby Cities
Newark | $347.6K | $462.3K | +33.0% |
Irvington | $325K | $396.7K | +22.1% |
Irvington Township | $325K | $395.8K | +21.8% |
East Orange | $351.8K | $416.3K | +18.3% |
Housing Supply in Newark, NJ
How many homes are available in Newark, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
515 | 637 | +23.7% |
Summary: The Newark real estate market had 637 homes for sale in May 2024, a 23.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 5 | -16.7% |
2 Bedrooms | 39 | 42 | +7.7% |
3 Bedrooms | 75 | 93 | +24.0% |
4 Bedrooms | 63 | 76 | +20.6% |
5+ Bedrooms | 332 | 421 | +26.8% |
Summary: The Newark housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 24%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes increased by 26.8%.
Days on Market for Newark, NJ
How long does it take to sell a home in Newark, NJ?
Average Listing Age
May 2023 | May 2024 | CHANGE |
---|---|---|
134 Days | 94 Days | -29.7% |
Summary: Homes in Newark had an average listing age of 94 days in May 2024, down by 29.7% compared to the previous year.