Newark Daily Brief: Nothing New Listed Today, and Mortgage Rates Just Hit a 52 Week High

Rates went up again. The 30 year fixed rose six basis points to 6.87% and the 15 year rose three to 6.38%, per Mortgage News Daily. Both are now sitting exactly at the top of their 52 week ranges. Not near the top, at it.

A genuinely quiet day

No Newark house or townhome came on the market today. Not one. The seven properties still carrying the newly listed flag are all holdovers from last week, and 38109 Iris Court came off that list overnight. Meanwhile two more went under contract, taking that count from 28 to 30, and buyable inventory eased from 60 to 58.

That combination, nothing arriving and a couple more going pending, is the quiet version of a tightening market. One session does not make a trend, but it is the opposite of what the last week looked like.

Ten ways into Newark under $900,000

The $1,238,000 median scares off buyers who would actually qualify here. Ten houses and townhomes are available below $900,000 right now, starting at $608,000 on Joaquin Murieta Avenue.

• 6279 Joaquin Murieta Ave, townhome, $608,000
• 6274 Joaquin Murieta Avenue, townhome, $649,000
• 7438 Wells Ave, house, $649,000
• 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
• 5378 Port Sailwood Drive, townhome, $899,000
• 6225 Wilma Avenue, house, $899,000
• 7601 Redbud Ct, house, $899,000

Seven more are staged as coming soon, from a $1,060,000 townhome on Bowline Road to a $2,995,000 house on Grasshopper Avenue. Coming soon is the window where a prepared buyer can walk through before the listing goes public.

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