Is Newark, OH 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.
Housing Prices in Newark, OH
How much do homes in Newark, OH cost?
Median Sold Price
$222,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Newark was $222,000 in March 2024, up 13.8% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $145K | +31.8% |
2 Bedrooms | $150K | $165K | +10.0% |
3 Bedrooms | $200.6K | $229.5K | +14.4% |
4 Bedrooms | $274K | $299.9K | +9.5% |
5+ Bedrooms | $368.4K | $315.2K | -14.4% |
Summary: Newark housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.8%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes decreased by 14.4%.
Median Sold Price Compared To Nearby Cities
Newark | $195K | $222K | +13.8% |
Heath | $255.1K | $284.9K | +11.7% |
Madison Township | $198K | $208K | +5.1% |
Newton Township | $247.2K | $257.5K | +4.1% |
Newark Township | $215K | $222K | +3.3% |
Housing Supply in Newark, OH
How many homes are available in Newark, OH?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
236 | 259 | +9.7% |
Summary: The Newark real estate market had 259 homes for sale in March 2024, a 9.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 52 | 62 | +19.2% |
3 Bedrooms | 126 | 131 | +4.0% |
4 Bedrooms | 45 | 51 | +13.3% |
5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The Newark housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 19.2%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
49 | 63 | +28.6% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 63 homes were sold or pending in Newark in March 2024, up by 28.6% month-over-month. Of the 63 sold homes, 44% were sold under asking, 27% were sold at asking, and 29% were sold over asking.
Days on Market for Newark, OH
How long does it take to sell a home in Newark, OH?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
25 Days | 27 Days | +7.7% |
Summary: Homes in Newark had an average of 27 days on market in Mar 2024, up by 7.7% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 63 homes were sold in Newark; 73% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.