Is Newark, NJ 07112 a buyer’s or seller’s market?

The Newark housing market right now

In the three months ending August 31, 2026, 71% of homes in Newark, NJ 07112 sold above their list price, the typical home went under contract in 60 days and there were 4.5 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 50 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 74%, homes sold faster (81 days then) and the median sale price fell 7% to $579,749. Overall, Newark is more competitive than a year ago, so tougher for buyers.

Within Essex County, homes here sell more slowly than in 63% of the county’s ZIP codes, and sell more often over asking than in 57%. On our competition score, Newark ranks #307 of 444 NJ ZIP codes with enough sales (score 69 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.