Newark Daily Brief: Seven New Listings and Rates at 6.75%

Mortgage rates rose for the third session in a row. The 30 year fixed added 2 basis points to 6.75% and the 15 year added 1 to 6.31%, per Mortgage News Daily. The moves are small, but the direction has been steady all week, and in a market this tight the rate you lock matters more than the rate you read about.

Newly listed in Newark

• 7438 Wells Ave, house, $649,000, 2 bed 1 bath, 760 sqft
• 6253 Joaquin Murieta Ave #C, townhome, $750,000, 3 bed 2.5 bath, 1,456 sqft
• 36267 Toulon Pl, house, $1,088,888, 3 bed 2 bath, 1,100 sqft
• 5984 Fair Ave, house, $1,148,000, 3 bed 2 bath, 1,431 sqft
• 8096 Juniper Ave, house, $1,495,000, 3 bed 2 bath, 2,856 sqft
• 38399 Birch Street, house, $1,598,000, 4 bed 2 bath, 2,001 sqft
• 6242 Montcalm Ave, house, $2,198,000, 5 bed 4 bath, 2,344 sqft

The coming soon pipeline

Eight more Newark houses and townhomes are staged to hit the market, from a $1,099,000 three bedroom on Campanula Court to a $2,995,000 four bedroom on Grasshopper Avenue. Coming soon is the window where a prepared buyer can move before the portals light up, and where a seller can read the competition before going live. The full list, with every active listing, sits on our listings page and refreshes every morning.

The demand side is just as telling. Another 31 Newark houses and townhomes are already in contract, against 59 you can still buy. The buyable range runs from a $608,000 two bedroom townhome on Joaquin Murieta Avenue to that $2,995,000 four bedroom. A market where roughly one home is in contract for every two on the shelf is still a competitive one.

Thinking about one of today's new listings, or wondering what this market means for your own home on these blocks? Harv Balu and Liliana Mayen watch this inventory every morning. Call 510.600.3425, or start with a free valuation below.