The Newark housing market is somewhat competitive. Homes in Newark receive 2 offers on average and sell in around 46 days. The median sale price of a home in Newark was $450K last month, up 4.7% since last year. The median sale price per square foot in Newark is $210, up 11.7% since last year.
In March 2024, Newark home prices were up 4.7% compared to last year, selling for a median price of $450K. On average, homes in Newark sell after 46 days on the market compared to 42 days last year. There were 107 homes sold in March this year, down from 155 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$450,000
+4.7% YoY | Mar 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Mar 2024
Growth
% YoY
Newark, NJ
$450,000
+4.7%
United States
To compare other locations to the Newark and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Newark's median sale price is 3% lower than the national average. Overall cost of living in Newark is 16% higher than the national average. Learn which home features in Newark add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Newark housing market?
Newark is somewhat competitive. Homes sell in 51 days.
0
100
58
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Some homes get multiple offers.
The average homes sell for about 3% above list price and go pending in around 51 days.
Hot homes
can sell for about 7% above list price and go pending in around 21 days.
All Home Types
Sale-to-List PriceAll Home Types
Sale-to-List Price
(All Home Types)
101.8%
+5.3 pt YoY | Feb 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Feb 2024
Growth
% YoY
Newark, NJ
101.8%
+5.3 pt
United States
Newark Migration & Relocation Trends
In Jan '24 - Mar '24, 30% of Newark homebuyers searched to move out of Newark, while 70% looked to stay within the metropolitan area.
Where are people moving to Newark from?
Across the nation, 3% of homebuyers searched to move into Newark from outside metros.
Peoria homebuyers searched to move into Newark more than any other metro followed by Springfield and Lincoln.
Where are people from Newark moving to?
70% of Newark homebuyers searched to stay within the Newark metropolitan area.
Miami was the most popular destination among Newark homebuyers followed by Philadelphia and Washington.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
Home offer insights for Newark
Explore recent offers and recently sold homes in Newark
This area's enrollment policy is not based solely on geography. Please check the school district website for more information.
GreatSchools Rating
7/10
Heywood Avenue Elementary School
Public • PreK-7
363
Students
5 reviews
7/10
Roosevelt Elementary School
Public • PreK-6
407
Students
7 reviews
7/10
Watsessing Elementary School
Public • K-6
315
Students
5 reviews
6/10
Salome Urena Elementary School
Public • PreK-6
285
Students
N/A
6/10
Hazel Avenue Elementary School
Public • K-5
335
Students
13 reviews
Only showing 5 of
98 elementary schools.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Newark housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Newark.
Risk Factor
Flood Factor - Major
32% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Newark has a major risk of flooding. 10,314 properties in Newark are likely to be
severely affected
by flooding over the next 30 years. This represents 32% of all properties in Newark. Flood risk is increasing slower than the national average.
<1% of properties are at risk of wildfire over the next 30 years
Fire Factor
Newark has a moderate risk of wildfire. There are 96 properties in Newark that have some risk of being affected by wildfire over the next 30 years. This represents <1% of all properties in Newark.
100% of properties are at major
risk of a severe wind event over the next 30 years
Wind Factor
Newark has a Major Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Newark is most at risk from hurricanes. 46,515 properties in Newark have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 100 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 116 mph.