Newark Sees Surge in Luxury Homes Sales: Top 10 Prices Revealed

A single-family home in Newark has set the record for the most expensive residential sale in the area for the week of November 17-23, 2023. The property, located at 32 Wall Street, sold for $1.4 million, contributing to a total of 27 residential transactions recorded during this period. The average sale price for these properties reached $1.1 million, with an average price per square foot of $232.

During this week, the Newark real estate market displayed notable activity, with several significant sales highlighting the demand for high-value properties. The following list outlines the ten most expensive residential sales, showcasing a range of homes from historic to contemporary designs.

Highlights of the Top Sales

10. **$585,000** – A detached house located at 64 Kossuth Street was sold. Built in 1877, this property features a living area of 2,066 square feet, resulting in a price per square foot of $283. The sale was finalized on October 21.

9. **$625,000** – The property at 9 Mapes Terrace #11 has new owners. Constructed in 1912, this single-family home offers 3,850 square feet of living space, translating to a price per square foot of $162. The deal closed on October 20.

8. **$650,000** – A single-family home at 695 Clifton Ave. was sold. This house, built in 1918, has a living area of 2,958 square feet, with a price per square foot of $220. The transaction was completed on October 21.

7. **$784,500** – The property at 99 Osborne Terrace has changed hands. This home, built in 1952, was sold on October 20.

6. **$785,000** – A condominium at 111 Mulberry Street #1001 was successfully sold. Constructed in 1988, it features a living space of 2,663 square feet, resulting in a price per square foot of $295. The sale was finalized on October 22.

5. **$860,000** – The property at 48 Cypress Street #50 is a 5,150-square-foot single-family house that sold for $860,000, equating to $167 per square foot. This residence was built in 2003 and the deal was finalized on October 22.

4. **$875,000** – A detached house at 192 Ridgewood Ave. was sold for $875,000. This property was newly constructed in 2023, and the sale concluded on October 20.

3. **$958,000** – A single-family home located at 238 Renner Ave. #240 was sold for $958,000. This house, built in 1925, offers 4,297 square feet of living space at a price per square foot of $223. The deal was finalized on October 20.

2. **$975,000** – The property at 38 Norfolk Street #40 was sold for $975,000. Built in 2008, this home boasts a spacious living area of 6,834 square feet, leading to a price per square foot of $143. The sale was finalized on October 21.

1. **$1.4 million** – The top sale of the week, the single-family home at 32 Wall Street #34, was sold for $1.4 million. Built in 1910, this property exemplifies the luxury market in Newark, with the deal closing on October 22.

As the Newark real estate market continues to thrive, these transactions reflect a growing interest in residential properties within the area. The recent sales underscore not only the increasing value of homes but also a robust demand for varied housing options among buyers.