Is Newark, NJ 07102 a buyer’s or seller’s market?
Newark is a buyer’s market. With about 8.8 months of supply, buyers usually have more time and more room to negotiate on price and terms.
Not ranked this month. Fewer than 15 sales in the 3-month window, so the numbers can swing too much to compare fairly. How the heat score works
The Newark housing market right now
In the three months ending August 31, 2026, 25% of homes in Newark, NJ 07102 sold above their list price, the typical home went under contract in 143 days and there were 8.8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 4 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 67%, homes sold more slowly (30 days then) and the median sale price fell 45% to $347,350. Overall, Newark is less competitive than a year ago, which gives buyers more room.
Within Essex County, homes here sell more slowly than in 97% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Glen Ridge 07028 (100% sold over asking) and Montclair 07043 (94% sold over asking) are even more competitive.
Run the numbers for 07102
Nearby markets
Belleville 07109Seller’s market $372 /sq ftBloomfield 07003Seller’s market $421 /sq ftCaldwell 07006Seller’s market $434 /sq ftCedar Grove 07009Seller’s market $422 /sq ft Browse all markets →Towns like Newark nearby
Find towns like Newark in other states →Where Newark is
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Questions about Newark real estate
Is Newark a buyer’s or seller’s market?
A buyer’s market: there were 8.8 months of supply in Newark, NJ 07102 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Newark?
The typical home went under contract in 143 days in the latest three months.
Do homes in Newark sell over asking?
25% of homes sold above their original list price, and the typical sale closed at 97.8% of the list price.
What are property taxes in Newark?
About 1.84% of a home’s value a year in Newark City, Essex County, or roughly $7,380 on a $400,000 home.
What is the median home price in Newark?
The median sale price was $347,350 in the three months ending August 31, 2026, about $294 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology