Here’s a look at the Newark DE Real Estate Market for April 2017. According to the statistics from Bright MLS formally known as TREND MLS, property prices continue to increase as we move into prime selling time in Newark real estate industry.
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The Housing Stats-All of Newark
April saw a total of 112 condominiums, townhomes, and single family homes sell.
The median price range of houses that sold in Newark during the month of April was $205,000. This is an increase of 2.4%.
The median price range for homes sold in 2017 is also $205,000 an increase of 2.5%.
At the end of April, there were 300 properties on the market, with 202 of them were single-family detached homes.
Housing Numbers for 19702
April saw a total of 34 condominiums, townhomes, and single family homes sell.
The median price range of houses that sold in 19702 during the month of April was $175,950. This is a decrease of 7.4%.
The median price range for homes sold in 2017 year to date is $187,500 a decrease of 4.3%.
At the end of April, there were 127 properties on the market, with 68 of them are single-family detached homes.
Real Estate Market for 19711
April saw a total of 47 condominiums, townhomes, and single family homes sell.
The median price range of houses that sold in 19711 zip code during the month of April was $250,000. This is an increase of 2.1%.
The median price range for homes sold in 19711 year to date in 2017 is $249,950 an increase of 6.7%.
At the end of April, there were 109 properties on the market, with 79 of them being single-family detached homes.
April saw a total of 31 condominiums, townhomes, and single family homes sell.
The median price range of houses that sold in 19713 during the month of April was $187,000. This is an increase of 8.5%.
The median price range for homes sold in 2017 is also $188,000 an increase of 7.5%.
At the end of April, there were 64 properties on the market, with 55 of them single-family detached homes.
What Does this Data Mean?
In the past five years, we’ve seen housing prices in Newark increase steadily. This market mix is a healthy market for both sellers and buyers. While some parts of the country are experiencing extremely tight inventory and double-digit price increases, Newark has risen at a more steady rate.
What does this mean if you’re buying a house in Newark?
The price of homes in Newark is on a steady rise, but inventory is very low. There were 3.1% less new listings that cameon the market in April and listings are down 5.6% for the year. If this continues, demand could begin to exceed supply and home prices will start to rise.
What does this mean if you’re selling a home in Newark?
Sellers trying to purchase a new home while they’re selling their existing property continue to feel the pressure caused by limited inventory. The good news for sellers is homes are selling faster than ever in Newark. The average days on market in Newark is down 22.9%! Newark homes sold in 54 days in April and 60 days so far this year.
Here are the most recent home listings just added to the database in the average price range for Newark. All homes here are priced at $250,000 or less.
