Newark Sees $1.4 Million Home Sale Leading Weekly Real Estate Trends

A single-family home in Newark has sold for an impressive $1.4 million, topping the list of the most expensive residential real estate transactions in the area for the week of November 17-23, 2023. This sale is part of a broader trend, with a total of 27 residential real estate sales recorded during this period. The average sale price across all transactions was approximately $1.1 million, with the average price per square foot reaching $232.

Top Sales of the Week

The following properties illustrate the diverse range of residential real estate in Newark:

10. At $585,000, a detached house located at 64 Kossuth Street was sold. Built in 1877, this home covers 2,066 square feet, resulting in a price per square foot of $283. The sale was finalized on October 21.

9. Another notable sale is the property at 9 Mapes Terrace #11, which sold for $625,000. This 1912-built single-family home offers 3,850 square feet of living space, translating to a price per square foot of $162. The transaction was completed on October 20.

8. The home at 695 Clifton Ave. fetched $650,000. Constructed in 1918, it spans 2,958 square feet and sold for $220 per square foot. This deal was also finalized on October 21.

7. The property located at 99 Osborne Terrace sold for $784,500. This single-family residence, built in 1952, was finalized on October 20.

6. A condominium at 111 Mulberry Street #1001 sold for $785,000. The 2,663-square-foot unit, constructed in 1988, had a price per square foot of $295, completing its sale on October 22.

5. The sale of a detached house at 48 Cypress Street #50 reached $860,000. This property, built in 2003, features a substantial living area of 5,150 square feet, yielding a price of $167 per square foot. The transaction was finalized on October 22.

4. A newer home at 192 Ridgewood Ave. sold for $875,000. Completed in 2023, this sale was finalized on October 20.

3. The property at 238 Renner Ave. #240 sold for $958,000. Built in 1925, this house offers 4,297 square feet of living space, resulting in a price of $223 per square foot. The deal was completed on October 20.

2. At $975,000, a detached house at 38 Norfolk Street #40 was sold. Built in 2008, this property boasts a generous 6,834 square feet of living area, leading to a price per square foot of $143. The sale was finalized on October 21.

1. The highest sale, the single-family residence at 32 Wall Street #34, fetched $1.4 million. Constructed in 1910, this sale was finalized on October 22.

These transactions reflect a dynamic real estate market in Newark, providing insight into current trends and property values. This week’s sales demonstrate a blend of historic and modern homes, appealing to a variety of buyers in the area. As the market continues to evolve, these figures will be pivotal for understanding future trends in Newark’s residential real estate landscape.