Newark Real Estate Market Update - June 2025

Current Market Overview

Currently, we have 89 active listings in Newark, with 30 pending sales and approximately 26 homes that sold in the month of May. This gives us a pending to active ratio of about 34%, indicating that while inventory is growing, there is still solid buyer interest throughout the market.

Market Statistics

• Active Listings: 89 active listings in Newark
• Pending Sales: 30
• Closed Sales (May 2025): 26 homes sold
• Median Home Price: ~$1.3 million
• Days on Market: 15-30 days on average

Inventory and Market Dynamics

With 26 homes sold in May, we're looking at approximately three to four months of inventory, suggesting a more balanced market compared to earlier this year. The median home price in Newark is holding strong at approximately $1.3 million, with homes selling in about 15 to 30 days on average. This shows that well-priced homes are selling quickly in the current market conditions.

Development and Growth

Newark is experiencing significant development activity with several exciting projects underway. Notable developments include the Marable Community by Robson Homes, offering thoroughly designed four-bedroom single-family homes. Additionally, the city has approved a 203-unit residential development, enhancing the housing options in the area.

The New Park Mall area is undergoing transformation, with plans to add approximately 319 apartments near the Costco store, aiming to revitalize that area and bring new energy to the community.

Market Outlook

For buyers, this means more opportunities are on the horizon. Staying informed about new developments can give you a competitive edge in the market. For sellers, the current market conditions remain favorable, but pricing your property correctly is crucial for a successful sale.

That's your Newark market update for June 2025. If you're looking for personalized advice tailored to today's market conditions, we've got you covered! Reach out to us for expert guidance on your real estate needs.