$5,343 Closing Credit*
$449,900
2,150 SqFt
3 Beds
•2 Full Baths, 1 Partial
Doreen A. Sawchak, Listing Office: RE/MAX Associates-Hockessin
Is Newark, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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, DE
How much do homes in Newark, DE cost?
Median Sold Price
$359,929
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,201(+5.0%)
Key Takeaway
Homes in Newark have sold for 5% more than they did a year ago.
Summary: The median home sold price in Newark was $359,929 in October 2024, up 5% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $172.5K | +19.0% |
| 2 Bedrooms | $223.4K | $270K | +20.8% |
| 3 Bedrooms | $315K | $330.1K | +4.8% |
| 4 Bedrooms | $419.9K | $460K | +9.5% |
| 5+ Bedrooms | $468.5K | $529.5K | +13.0% |
Summary: Newark housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 13%.
Median Sold Price Compared To Nearby Cities
| Glasgow | $376.8K | $420K | +11.4% |
| Newark | $342.7K | $359.9K | +5.0% |
Housing Supply in Newark, DE
How many homes are available in Newark, DE?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 276 | 290 | +5.1% |
Summary: The Newark real estate market had 290 homes for sale in October 2024, a 5.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 49 | 59 | +20.4% |
| 3 Bedrooms | 120 | 119 | -0.8% |
| 4 Bedrooms | 84 | 89 | +6.0% |
| 5+ Bedrooms | 21 | 21 | 0.0% |
Summary: The Newark housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20.4%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 89 | 92 | +3.4% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newark, you could pay more than the asking price. 45.7% of homes here sold above asking price last month.
Summary: A total of 92 homes were sold or pending in Newark in October 2024, up by 3.4% month-over-month. Of the 92 sold homes, 26% were sold under asking, 28% were sold at asking, and 46% were sold over asking.
Days on Market for Newark, DE
How long does it take to sell a home in Newark, DE?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 13 Days | 15 Days | +16.1% |
Summary: Homes in Newark had an average of 15 days on market in Oct 2024, up by 16.1% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
13 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 October 2024, 92 homes were sold in Newark; 86% 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.
