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

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.

Property Taxes

Liquidity & Velocity

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. $551,000 median sold price is the representative recent sale level in 07103 and suggests robust transaction pricing that should be used as the primary valuation anchor when underwriting SFR and condominium deals; price trends are up year-over-year, supporting continued seller confidence.
2. Despite a higher $595,000 median listing price, the gap between asking and actual transaction levels appears to indicate pricing friction and seller optimism; consider marketing strategies that reference the median sold price to reduce time on market and align buyer expectations.
3. 39 median days on market points to moderate transaction velocity—longer than a rapid-flip environment but consistent with a market that remains hot overall; underwrite contingency timelines accordingly and plan for a modest holding period when acquiring for resale.
4. With $2,150 median market rent and rent trends up, rental income can support acquisition models, but rising borrowing costs (Current 30-year fixed mortgage rates averaging 6.65% and elevated interest rate pressure) may compress cashflow—stress-test deals at current rates and prioritize properties with rent upside or operational efficiencies.

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.