Newark, NJ 07106 Real Estate Market Report

ZIP Code: 07106
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the real estate market in Newark, NJ (07106) is characterized by a median sold price of $459,000, reflecting a competitive environment despite broader trends in Newark suggesting a slight decrease. The neighborhood has increased 15% since 2023, indicating a positive trajectory in property values. This growth in sold prices signals a resilient demand, even as the market appears to be stabilizing overall.

Market activity shows median days on market at 279, suggesting a slower sales velocity, which may indicate elevated inventory levels relative to the number of sales. The current median listing price stands at $454,000, which is slightly below the median sold price, hinting at potential pricing friction as sellers adjust expectations to align with buyer sentiment. Overall, the market temperature is described as neutral, with moderate interest rate pressure impacting buyer behavior.

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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

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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 averaging around 6.63%, which is 1.13% higher than the average rates of approximately 5.50% seen in early 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. The median sold price of $459,000 indicates a strong market performance, reflecting a 15% increase since 2023.

2. With a median days on market of 279, the market exhibits slower sales velocity, suggesting a potential need for sellers to adjust their pricing strategies.

3. The median listing price of $454,000 is slightly below the median sold price, indicating possible pricing friction as sellers respond to market conditions.

4. Rental demand remains stable, with a median market rent of $2,394, reflecting a consistent interest in rental properties in the area.

5. Overall market temperature is neutral, suggesting a balanced environment despite elevated inventory levels relative to sales activity.

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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.