Is Newark Township, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Newark Township has remained a Seller's Market.
Housing Prices in Newark Township, OH
How much do homes in Newark Township, OH cost?
Median Sold Price
$227,406
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Newark Township was $227,406 in May 2024, up 4.6% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $113.5K | $145K | +27.8% |
2 Bedrooms | $146.2K | $171.7K | +17.4% |
3 Bedrooms | $228.5K | $238.5K | +4.4% |
4 Bedrooms | $312.5K | $290K | -7.2% |
5+ Bedrooms | $432.5K | $332.7K | -23.1% |
Summary: Newark Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.8%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 7.2%, and 5+ bedroom homes decreased by 23.1%.
Median Sold Price Compared To Nearby Cities
Newton Township | $242.4K | $282.5K | +16.5% |
Newark | $208K | $227.4K | +9.3% |
Granville Township | $442.9K | $470K | +6.1% |
Newark Township | $217.4K | $227.4K | +4.6% |
Madison Township | $199.9K | $209K | +4.5% |
Housing Supply in Newark Township, OH
How many homes are available in Newark Township, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
214 | 240 | +12.1% |
Summary: The Newark Township real estate market had 240 homes for sale in May 2024, a 12.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 52 | 49 | -5.8% |
3 Bedrooms | 99 | 118 | +19.2% |
4 Bedrooms | 51 | 57 | +11.8% |
5+ Bedrooms | 12 | 16 | +33.3% |
Summary: The Newark Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.8%, 3 bedroom homes increased by 19.2%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
63 | 81 | +28.6% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 81 homes were sold or pending in Newark Township in May 2024, up by 28.6% month-over-month. Of the 81 sold homes, 41% were sold under asking, 21% were sold at asking, and 38% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 27 Days | +92.7% |
Summary: Homes in Newark Township had an average of 27 days on market in May 2024, up by 92.7% compared to last year.
Breakdown of Home Sale Times
56 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 81 homes were sold in Newark Township; 69% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.