Newark Real Estate Market Sees Home Sales Fall

The Newark market pulled back with an 8.0% sales drop in this week's report. However, overall sales numbers for the last 30 days remained above the monthly average (20.5) with 23 homes sold. Meanwhile, close-by Elkton reported 26 homes sales, the highest number from all the surrounding cities. Months of inventory were further reduced to two, extending a downward trend to four weeks. With such low levels of inventory, Newark is still a strong seller's market, in spite of the dip in sales.

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Demographic facts for Newark:

  • The population growth rating is 62. (Scale: 1 = Worst, 100 = Best)
  • This area has 304.6 physicians per 100,000 people.
  • The area's health cost index score is 104.7. (100 = national average)
  • The breakdown of residents commuting to work is 66.5% by car, 7.4% by carpool, and 5.2% by public transit.

Data reported through 1/11/2017

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