Is Newark, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Newark has remained a Seller's Market.
Key Takeaway
Newark is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newark, CA
How much do homes in Newark, CA cost?
Median Sold Price
$1,275,000
$785/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Newark have sold for 13.8% more than they did a year ago.
Summary: The median home sold price in Newark was $1,275,000 in June 2024, up 13.8% from last year, and the median price per square foot was $785.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $449.4K | $469K | +4.4% |
| 2 Bedrooms | $660K | $668K | +1.2% |
| 3 Bedrooms | $1.0M | $1.2M | +13.0% |
| 4 Bedrooms | $1.3M | $1.4M | +11.9% |
| 5+ Bedrooms | $1.5M | $1.8M | +15.9% |
Summary: Newark housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.4%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 15.9%.
Median Sold Price Compared To Nearby Cities
| Newark | $1.1M | $1.2M | +13.8% |
| Fremont | $1.3M | $1.4M | +12.8% |
Housing Supply in Newark, CA
How many homes are available in Newark, CA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 85 | 90 | +5.9% |
Summary: The Newark real estate market had 90 homes for sale in June 2024, a 5.9% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 10 | +42.9% |
| 3 Bedrooms | 44 | 45 | +2.3% |
| 4 Bedrooms | 27 | 29 | +7.4% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Newark housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 31 | 35 | +12.9% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newark, you could pay more than the asking price. 73.5% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in Newark in June 2024, up by 12.9% month-over-month. Of the 34 sold homes, 12% were sold under asking, 15% were sold at asking, and 74% were sold over asking.
Days on Market for Newark, CA
How long does it take to sell a home in Newark, CA?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 17 Days | 12 Days | -30.7% |
Summary: Homes in Newark had an average of 12 days on market in Jun 2024, down by 30.7% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newark are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 35 homes were sold in Newark; 91% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.