UPDATE: A stunning single-family home in Newark has just sold for $2.2 million, marking the highest residential real estate sale in the area for the week of September 29 to October 5. This surge in high-value transactions is indicative of a hot market, with a total of 38 properties changing hands during this period, averaging a price of $377,485.
The standout property, located at 98 Ferry Street #100, showcases the growing demand for luxury homes in Newark. The deal was officially recorded on August 29, highlighting a trend of significant investments in the region.
Here are the top ten most expensive home sales from the past week:
10. $545,000 – Detached house at 297 Garside Street: This 1,982-square-foot home sold for $275 per square foot, with the sale finalized on September 3.
9. $556,000 – Single-family residence at 113 Avon Ave: A spacious 2,748-square-foot home that sold for $202 per square foot, finalized on September 3.
8. $600,000 – Single-family house at 125 S. Eighth Street #127: Built in 2004, this home’s sale price was $282 per square foot, finalized on August 28.
7. $630,000 – Single-family home at 95 Mount Prospect Ave: This historic home built in 1882 sold for $453 per square foot, finalized on August 27.
6. $640,000 – Single-family home at 433 Avon Ave #435: Selling at $300 per square foot, this property was sold on August 29.
5. $650,000 – Detached house at 78 S. Sixth Street: A charming home built in 1907 sold for $286 per square foot, finalized on August 29.
4. $655,000 – Single-family residence at 159 Pomona Ave: This property, built in 1924, sold for $242 per square foot, finalized on August 28.
3. $675,000 – Single-family home at 287 Garside Street: A large 2,836-square-foot home that sold for $238 per square foot, finalized on September 3.
2. $950,000 – Detached house at 265 Walnut Street: This spacious home sold at $236 per square foot, finalized on September 2.
The latest data shows a clear trend: Newark’s real estate market is heating up as more buyers seek larger, more luxurious homes. The influx of sales not only boosts the local economy but also reflects a shift in consumer preferences, with buyers willing to invest significantly in their living spaces.
As the market continues to evolve, potential buyers and investors should keep a close eye on upcoming listings and sales trends. With more properties hitting the market, the urgency to act quickly is paramount.
Stay tuned for more updates on Newark’s dynamic real estate landscape.
