Is Newark, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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, NY
How much do homes in Newark, NY cost?
Median Sold Price
$172,500
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Newark have sold for 11.4% more than they did a year ago.
Summary: The median home sold price in Newark was $172,500 in March 2024, up 11.4% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $48.5K | $80K | +64.8% |
| 2 Bedrooms | $119K | $158.4K | +33.2% |
| 3 Bedrooms | $160K | $179.2K | +12.0% |
| 4 Bedrooms | $194K | $174.7K | -9.9% |
| 5+ Bedrooms | $317.5K | $195.9K | -38.3% |
Summary: Newark housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 64.8%, 2 bedroom homes increased by 33.2%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 9.9%, and 5+ bedroom homes decreased by 38.3%.
Median Sold Price Compared To Nearby Cities
| Arcadia | $152K | $170K | +11.8% |
| Newark | $154.9K | $172.5K | +11.4% |
Housing Supply in Newark, NY
How many homes are available in Newark, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 18 | -21.7% |
Summary: The Newark real estate market had 18 homes for sale in March 2024, a 21.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 4 | 1 | -75.0% |
Summary: The Newark housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 75%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newark, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Newark in March 2024, down by 16.7% month-over-month. Of the 5 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Newark, NY
How long does it take to sell a home in Newark, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 7 Days | -76.3% |
Summary: Homes in Newark had an average of 7 days on market in Mar 2024, down by 76.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 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 March 2024, 5 homes were sold in Newark; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Information being provided by Brooklyn Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.