Is Newark, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Newark has remained a Seller's Market.
Key Takeaway
Newark is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newark, DE
How much do homes in Newark, DE cost?
Median Sold Price
$345,036
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Newark have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in Newark was $345,036 in April 2024, up 1.5% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $123K | $172.5K | +40.2% |
| 2 Bedrooms | $205K | $246.4K | +20.2% |
| 3 Bedrooms | $306.5K | $323K | +5.4% |
| 4 Bedrooms | $405K | $435K | +7.4% |
| 5+ Bedrooms | $455K | $489.5K | +7.6% |
Summary: Newark housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.2%, 2 bedroom homes increased by 20.2%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Newark | $340K | $345K | +1.5% |
| Glasgow | $389.6K | $395K | +1.4% |
Housing Supply in Newark, DE
How many homes are available in Newark, DE?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 223 | 249 | +11.7% |
Summary: The Newark real estate market had 249 homes for sale in April 2024, a 11.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 24 | 28 | +16.7% |
| 3 Bedrooms | 109 | 122 | +11.9% |
| 4 Bedrooms | 76 | 79 | +3.9% |
| 5+ Bedrooms | 9 | 15 | +66.7% |
Summary: The Newark housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 68 | 69 | +1.5% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newark, you could pay more than the asking price. 60.9% of homes here sold above asking price last month.
Summary: A total of 69 homes were sold or pending in Newark in April 2024, up by 1.5% month-over-month. Of the 69 sold homes, 20% were sold under asking, 19% were sold at asking, and 61% were sold over asking.
Days on Market for Newark, DE
How long does it take to sell a home in Newark, DE?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 14 Days | 10 Days | -31.3% |
Summary: Homes in Newark had an average of 10 days on market in Apr 2024, down by 31.3% compared to last year.
Breakdown of Home Sale Times
65 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newark are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 69 homes were sold in Newark; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
