Newark, NJ 07103 Real Estate Market Report

ZIP Code: 07103
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Newark NJ are 6.30% compared to the 5.87% average seen in February 2026, indicating that property owners who secured loans earlier this year locked in more favorable borrowing costs.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's primary market-value indicator is the median sold price: $499,900, which reflects recent transaction-level pricing and underpins valuation for SFR and condominium properties in the ZIP code.

2. There is a noticeable gap between the median listing price $615,000 and the median sold price $499,900, which may indicate seller expectations exceed realized sale prices and could create pricing friction; the median days on market 305 further suggests slower sales velocity that buyers and sellers should factor into negotiation timelines.

3. Sample analysis indicates elevated inventory relative to sales activity, and with the market temperature described as neutral, conditions appear to be moving toward balance—price year-over-year trend is up, so pockets of competition may persist even as overall velocity moderates.

4. Rental and financing context: median market rent $2,350 with rent year-over-year trend up; interest rate pressure is moderate, and current 30-year fixed mortgage rates are 6.30% compared to the 5.87% average seen in February 2026, which may constrain some buyer affordability despite rising rents.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Newark, NJ 07103 Real Estate Market Report

ZIP Code: 07103
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Newark NJ are 6.30% compared to the 5.87% average seen in February 2026, indicating that property owners who secured loans earlier this year locked in more favorable borrowing costs.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary indicator of recent market value is the median sold price of 355,000, which anchors pricing expectations for SFR and condo transactions in 07103 and aligns with a broader price appreciation trend (up) noted in recent indexes.

2. The market shows relatively constrained active supply in the analyzed sample while transaction velocity appears slow: the median days on market of 279 suggests slower sales velocity and potential pricing friction between seller expectations and buyers.

3. Valuation context is supported by a median price per square foot of 264 and a median market rent of 1,750, which together provide market-reference points for investor and owner-occupier underwriting and indicate how price levels compare to local rental cash flows (contextual).

4. Market balance looks neutral overall—market temperature is reported as neutral while interestRatePressure is moderate; additionally, current mortgage conditions note a 30-year fixed rate of 6.30% versus a 5.87% average in February 2026, a dynamic that may moderate buyer affordability and pacing of transactions.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.