$3,503 Closing Credit*
$295,000
2,454 SqFt
4 Beds
•2 Full Baths
Patricia A. Claus-Lapresi, Listing Office: Hunt Real Estate ERA/Columbus
Is Newark, NY 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, NY
How much do homes in Newark, NY cost?
Median Sold Price
$179,900
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,900(+12.4%)
Key Takeaway
Homes in Newark have sold for 12.4% more than they did a year ago.
Summary: The median home sold price in Newark was $179,900 in October 2024, up 12.4% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $80K | N/A |
| 2 Bedrooms | $125K | $160K | +28.0% |
| 3 Bedrooms | $165K | $195K | +18.2% |
| 4 Bedrooms | $181.2K | $194K | +7.0% |
| 5+ Bedrooms | $215K | $160K | -25.6% |
Summary: Newark housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 28%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 25.6%.
Median Sold Price Compared To Nearby Cities
| Arcadia | $156K | $182.4K | +17.0% |
| Newark | $160K | $179.9K | +12.4% |
Housing Supply in Newark, NY
How many homes are available in Newark, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 31 | -16.2% |
Summary: The Newark real estate market had 31 homes for sale in October 2024, a 16.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 15 | 14 | -6.7% |
| 4 Bedrooms | 14 | 9 | -35.7% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Newark housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 35.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newark, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Newark in October 2024, up by 12.5% month-over-month. Of the 9 sold homes, 22% were sold under asking, 0% were sold at asking, and 78% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 12 Days | +6.7% |
Summary: Homes in Newark had an average of 12 days on market in Oct 2024, up by 6.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was 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, 9 homes were sold in Newark; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
