Welcome to this overview of Newark, a city in New Jersey with an interesting real estate market. In this text, we’ll provide you with insights on the city’s housing market, home values, crime rates, and other neighborhood resources. Whether you’re a property investor, realtor, manager, or simply interested in learning more about Newark’s real estate landscape, read on to discover valuable information and resources.
OVERVIEW
Newark is a city in New Jersey and consists of 21 neighborhoods. There are 494 homes for sale, ranging from $1.4K to $2M. Newark have affordable houses, affordable condo/townhomes, and affordable 2 – 3 bedroom listings.
- Median listing home price: $379.9K
- Median listing home price/Sq ft: $245
- Median sold home price: $420K
REAL ESTATE MARKET IN NEWARK
Newark, NJ Housing Market
In December 2023, Newark witnessed a 5.3% increase in home prices compared to the previous year, with a median price of $420K. The average time homes spent on the market decreased to 56 days from 61 days, while home sales declined from 165 to 118. Read more.
Newark Housing Market Trends and Predictions for 2024
Newark’s housing market boasts a robust 6.6% increase, reaching an average home value of $428,985. The competitive environment, with properties averaging 36 days on the market, signals resilience and opportunities for investors in this thriving and appreciating market. Don’t miss out on the trends of the Newark housing market.
Newark Home Values
Check out Zillow’s report about Newark home values.
INTERESTING STORIES
History of Newark, New Jersey
Did you know Newark was one of the major industrial hubs in the nation? Read more.
‘One Property at a Time’: A City Tries to Revive Without Gentrifying
Neighborhoods in Newark are beginning to see a flurry of redevelopment, a decade after the city’s downtown gained vogue. Read more.
NEIGHBORHOOD RESOURCES
Cleveland Crime Map
Newark’s crime rate, 24 per thousand residents, surpasses the national average. While safer than many cities its size, violent crime rates, notably murders, remain higher. Property crime, with a 1 in 52 chance, is a concern, especially motor vehicle theft. Read more.
Top Real Estate Agents
Looking for a real estate agent? Here are the 10 Top Real Estate Agents in Newark by sales transactions.
NEWARK HELPFUL REAL ESTATE ECONOMIC DEVELOPMENT RESOURCES
Community Development Support
- Housing and Community Development Network of New Jersey.
- The Newark Downtown District (NDD).
- New Community Corporation (NCC) in Newark.
- Ironbound Community Corporation (ICC).
ABOUT DAWGS
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Property investors, property managers, housing authorities, rehabbers, and real estate professionals trust D.A.W.G.S. to safeguard their vacant properties.
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Community Outreach
DAWGS philanthropy efforts have touched many lives:
- Helping Veterans realize a brighter, better future
- Giving a homeless family hope and a newly furnished home
- Providing opportunities for inner city teenage girls to live happier and healthier lifestyles
- Rescuing dogs that have been abandoned
- Providing employment opportunities for individuals with developmental disabilities
Learn more here.
