Mary Pope-Handy's Market Report
Newark, CA 94560
Condos/Townhomes
Christie's International Real Estate Sereno | 408 204-7673 | ValleyOfHeartsDelight.com/blog
Newark, CA 94560
Wed May 08 2024
This week the median list price for Newark, CA 94560 is $817,944 with the market action index hovering around 62. This is less than last month's market action index of 68. Inventory has increased to 10.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $817,944 | |
| Median Price of New Listings | $947,000 | |
| Per Square Foot | $669 | |
| Average Days on Market | 30 | |
| Median Days on Market | 18 | |
| Price Decreased | 30% | |
| Price Increased | 10% | |
| Relisted | 0% | |
| Inventory | 10 | |
| Median Rent | ||
| Market Action | 62 | |
| Strong Seller's Market | ||
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,224,500 | 1,768 | - | 3 | 3.5 | 7 | 0 | 0 | 24 |
| $1,133,944 | 1,652 | - | 3 | 3.3 | 7 | 0 | 0 | 14 |
| $688,888 | 1,071 | 0 - 4,500 sqft | 2 | 2 | 39 | 1 | 1 | 35 |
| $499,900 | 777 | 2.5 - 5 acres | 1 | 1 | 42 | 0 | 0 | 14 |