Is Newark, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Newark is a seller's market

Buyer's
Market

Difference Since February 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

$1,200,000

$758/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$23,000(+2.0%)

Key Takeaway

Homes in Newark have sold for 2% more than they did a year ago.

Summary: The median home sold price in Newark was $1,200,000 in February 2024, up 2% from last year, and the median price per square foot was $758.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $473K$478K
+1.1%
2 $650K$665K
+2.3%
3 $1.1M$1.1M
+3.2%
4 $1.3M$1.3M
+1.5%
5+ $2.0M$1.7M
-15.0%

Summary: Newark housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 15%.

Median Sold Price Compared To Nearby Cities

Newark
+2.0%
Fremont
0.2%

Housing Supply in Newark, CA

How many homes are available in Newark, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4057+42.5%

Summary: The Newark real estate market had 57 homes for sale in February 2024, a 42.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 813
+62.5%
3 1824
+33.3%
4 1316
+23.1%
5+ 03
+100.0%

Summary: The Newark housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 62.5%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
722+214.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Newark, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.

Summary: A total of 22 homes were sold or pending in Newark in February 2024, up by 214.3% month-over-month. Of the 21 sold homes, 10% were sold under asking, 5% were sold at asking, and 86% 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

Feb 2023Feb 2024CHANGE
18 Days13 Days-22.5%

Summary: Homes in Newark had an average of 13 days on market in Feb 2024, down by 22.5% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Newark are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 22 homes were sold in Newark; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Newark, CA

Nearby Markets to Newark, CA

What housing markets are near Newark, CA?