Is Newark, NJ 07107 a buyer’s or seller’s market?

The Newark housing market right now

In the three months ending August 31, 2026, 64% of homes in Newark, NJ 07107 sold above their list price, the typical home went under contract in 57 days and there were 6.3 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 34 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (63% then), homes sold faster (71 days then) and the median sale price fell 13% to $534,769. Overall, Newark is more competitive than a year ago, so tougher for buyers.

Within Essex County, homes here sell more slowly than in 60% of the county’s ZIP codes, and sell less often over asking than in 67%. On our competition score, Newark ranks #338 of 444 NJ ZIP codes with enough sales (score 63 out of 100).

Nearby, buyers who want less competition could look at Newark 07102 (25% sold over asking) or Essex Fells 07021 (33% sold over asking), while Glen Ridge 07028 (100% sold over asking) and Montclair 07043 (94% sold over asking) are even more competitive.