Newark, NJ 07103 Real Estate Market Report

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.

Market Metrics

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.

Rental Market

Property Taxes

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.

Market Trends & Context

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

Key Findings

1. The primary indicator of recent market value is the median sold price at 420,500, which reflects realized transaction levels and should guide pricing and appraisal expectations; up year-over-year price trend supports continued appreciation.
2. There is a meaningful spread between the median listing price (597,500) and the median sold price (420,500), which suggests pricing friction and that sellers may need to align expectations to achieve timely closings.
3. The median days on market is 306, pointing to a slower sales velocity that may require longer time-on-market assumptions in underwriting and staging/marketing strategies to reduce holding costs.
4. Market fundamentals show a median price per square foot of 184 and a median market rent of 2,300; combined with moderate interest rate pressure and local 30-year fixed mortgage rates around 6.5%, this environment appears to support investor interest while keeping buyer affordability constrained, so underwrite conservatively and prioritize properties with clear rental upside.

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.