Newark Daily Brief: Eleven Houses Under $900,000 and a Fed That Is Talking About Hikes

Rates held. The 30 year fixed is 6.81% and the 15 year is 6.35%, both unchanged, per Mortgage News Daily, whose board posts its Monday reading late this afternoon. What changed over the weekend is not the rate but the expectation behind it.

Eleven ways into Newark under $900,000

The headline number in Newark is a $1,238,000 median, and that scares off buyers who would actually qualify here. Eleven houses and townhomes are currently available below $900,000, starting at $608,000 on Joaquin Murieta Avenue. The newest of them is 7601 Redbud Ct, a three bedroom house at $899,000, which is the one genuinely new listing since Friday.

• 6279 Joaquin Murieta Ave, townhome, $608,000
• 6274 Joaquin Murieta Avenue, townhome, $649,000
• 7438 Wells Ave, house, $649,000
• 9652 Seawind Way, townhome, $680,000
• 37136 Magnolia Street, house, $790,000
• 37677 Bay Breeze Street, townhome, $849,000
• 6233 Zulmida Ave, house, $868,000
• 6346 Cotton Avenue, house, $889,000
• 6225 Wilma Avenue, house, $899,000
• 5378 Port Sailwood Drive, townhome, $899,000
• 7601 Redbud Ct, house, $899,000

What the weekend actually did

Buyable inventory rose from 58 to 60 while the number under contract fell from 32 to 28. Read the second number carefully: contracts leaving this count usually means deals closing rather than falling apart. Seven more homes are staged as coming soon, from a $1,060,000 townhome on Bowline Road to a $2,995,000 house on Grasshopper Avenue.

The median listing has now been available 19 days, up from 17 on Friday. That is a small move, but paired with rising inventory and a Fed leaning toward higher rates, it is the direction a buyer wants and the direction a seller should price against.

Questions about any of the addresses above, or about what your own place would bring right now? Reach out to Harv or Liliana. We go through these numbers every morning so you do not have to.