Housing Prices in Newark, NJ
How much do homes in Newark, NJ cost?
Median List Price
$462,318
$242/sqft
Based on all homes listed in the last 12 months.
Difference Since May 2023
Key Takeaway
The list price of homes in Newark has increased by 33% since last year.
Summary: The median home list price in Newark was $462,318 in May 2024, up 33% from the previous year, and the median price per square foot was $242.
Median List Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $225K | +12.5% |
| 2 Bedrooms | $280K | $304.5K | +8.8% |
| 3 Bedrooms | $328K | $360K | +9.8% |
| 4 Bedrooms | $380K | $429.9K | +13.1% |
| 5+ Bedrooms | $427K | $599.9K | +40.5% |
Summary: Newark housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 40.5%.
Median List Price Compared To Nearby Cities
| Newark | $347.6K | $462.3K | +33.0% |
| Irvington | $325K | $396.7K | +22.1% |
| Irvington Township | $325K | $395.8K | +21.8% |
| East Orange | $351.8K | $416.3K | +18.3% |
Housing Supply in Newark, NJ
How many homes are available in Newark, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 515 | 637 | +23.7% |
Summary: The Newark real estate market had 637 homes for sale in May 2024, a 23.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 39 | 42 | +7.7% |
| 3 Bedrooms | 75 | 93 | +24.0% |
| 4 Bedrooms | 63 | 76 | +20.6% |
| 5+ Bedrooms | 332 | 421 | +26.8% |
Summary: The Newark housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 24%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes increased by 26.8%.
Days on Market for Newark, NJ
How long does it take to sell a home in Newark, NJ?
Average Listing Age
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 134 Days | 94 Days | -29.7% |
Summary: Homes in Newark had an average listing age of 94 days in May 2024, down by 29.7% compared to the previous year.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.