Is Newark Township, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Newark Township is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Newark Township has remained a Seller's Market.

Key Takeaway

Newark Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Newark Township, OH

How much do homes in Newark Township, OH cost?

Median Sold Price

$225,333

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

-$3,166(-1.4%)

Key Takeaway

Homes in Newark Township have sold for 1.4% less than they did a year ago.

Summary: The median home sold price in Newark Township was $225,333 in September 2024, down 1.4% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $117K$145K
+23.9%
2 $152K$174K
+14.5%
3 $235.4K$230K
-2.3%
4 $299K$310K
+3.7%
5+ $360K$351.5K
-2.4%

Summary: Newark Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.9%, 2 bedroom homes increased by 14.5%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 2.4%.

Median Sold Price Compared To Nearby Cities

Newton Township
+11.3%
Madison Township
+6.0%
Granville Township
+5.7%
Newark
+3.4%
Newark Township
-1.4%

Housing Supply in Newark Township, OH

How many homes are available in Newark Township, OH?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
5541-25.5%

Summary: The Newark Township real estate market had 41 homes for sale in September 2024, a 25.5% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 118
-27.3%
3 3323
-30.3%
4 108
-20.0%
5+ 12
+100.0%

Summary: The Newark Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 27.3%, 3 bedroom homes decreased by 30.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1713-23.5%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Newark Township, you may be able to get a good deal. 84.6% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Newark Township in September 2024, down by 23.5% month-over-month. Of the 13 sold homes, 85% were sold under asking, 0% were sold at asking, and 15% were sold over asking.

Days on Market for Newark Township, OH

How long does it take to sell a home in Newark Township, OH?

Average Sale Time

Sep 2023Sep 2024CHANGE
12 Days63 Days+420.7%

Summary: Homes in Newark Township had an average of 63 days on market in Sep 2024, up by 420.7% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Newark Township has remained consistent over time.

Summary: During September 2024, 13 homes were sold in Newark Township; 8% of homes were sold within 30 days, 69% of homes were sold within 30 to 90 days, and 23% 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 30 Days Ago

Newest Listings in Newark Township, OH

Nearby Markets to Newark Township, OH

What housing markets are near Newark Township, OH?