Newark, NJ 07106 Real Estate Market Report

ZIP Code: 07106
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 the Newark 07106 market are averaging 6.34%, which reflects the ongoing volatility and elevated cost of borrowing for property owners in this area throughout 2026.

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. median sold price $476,944 is the primary indicator of realized market value in 07106; recent transactions center around this level, suggesting that actual sale outcomes are materially below asking expectations in some cases.

2. There is a notable spread between median listing price $572,000 and median sold price $476,944, which may indicate pricing friction and that sellers' expectations exceed recent transaction prices; buyers should use recent sales as the benchmark for offers.

3. The median days on market 305 points to slower sales velocity and extended time-to-contract for SFR and condominium listings, which may signal more negotiation leverage for buyers and the need for sellers to price competitively or provide concessions.

4. Interest rate dynamics are an important headwind: current 30-year fixed mortgage rate 6.34% combined with moderate interest rate pressure may be constraining buyer affordability, while rent performance is stable with flat year-over-year rent trends and a median market rent $2,200 maintaining baseline cash-flow expectations for rental strategies.

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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.