Newark, NJ 07106 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

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

Key Findings

1. The primary market signal is the median sold price; 434,000 reflects recent transaction-level value and should be treated as the definitive indicator of neighborhood market value and recent liquidity, while the broader price year-over-year trend is down.
2. Seller expectations remain above recent transaction levels: the 545,000 median listing price suggests a material asking-vs-sale spread that may indicate pricing friction and the need for price alignment if owners want quicker closings.
3. Market velocity is slow based on the median days on market of 335, which points to slower sales velocity and suggests relatively constrained active supply in the analyzed sample rather than brisk turnover—this may prolong time-to-contract for sellers.
4. Relative value context and carrying dynamics: the 2,100 median market rent alongside a 195 median price per square foot and a rental trend that is up suggest steady rental demand, but elevated interest rate pressure (elevated) may weigh on affordability and buyer purchasing power in the near term.

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.