Is Newark, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Newark has remained a Seller's Market.
Housing Prices in Newark, IL
How much do homes in Newark, IL cost?
Median Sold Price
$300,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Newark was $300,000 in April 2024, up 23.8% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $150K | $184K | +22.7% |
3 Bedrooms | $240K | $249.5K | +4.0% |
4 Bedrooms | $492.5K | $493.5K | 0.2% |
5+ Bedrooms | $1.9M | $440K | -76.8% |
Summary: Newark housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.7%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes decreased by 76.8%.
Median Sold Price Compared To Nearby Cities
Newark | $242.2K | $300K | +23.8% |
Big Grove Township | $242.2K | $270K | +11.5% |
Fox Township | $492.5K | $432.5K | -12.2% |
Housing Supply in Newark, IL
How many homes are available in Newark, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 8 | 0.0% |
Summary: The Newark real estate market had 8 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 4 | 4 | 0.0% |
4 Bedrooms | 2 | 3 | +50.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Newark housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Newark in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Newark, IL
How long does it take to sell a home in Newark, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 26 Days | +43.2% |
Summary: Homes in Newark had an average of 26 days on market in Apr 2024, up by 43.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 2 homes were sold in Newark; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.