Add The New York Post on Google Newark, Newark — it’s a helluva town.
Indeed, Newark — the transit-connected New Jersey city a mere 45 minutes from Midtown Manhattan — just ranked as the most competitive housing market in the nation, according to a spring market report from Redfin. For years, Newark has had a reputation for being rough — but 2025 saw violent crime fall by 19% in 2025 and the number of murders at a historic low of 31, according to reports.
In Newark, nearly three in five homes sold above ask in May — the highest share of the nation’s 50 most populous metros.
That share equals 57.6%, which narrowly beat out San Francisco, where 57.3% of homes sold above the original list price in May.
Of course, Newark’s proximity to New York City is a major driver. But buyers are duking it out for homes there — and pushing up prices as a result — amid a surge of interest in the Garden State’s Big Apple-adjacent communities.
For instance, a humble home in Maplewood — not far from Newark — sold in April for $1.18 million after listing a month earlier for $800,000.
Overall, home prices across New Jersey climbed an impressive 6% year-over-year in February, marking the sharpest statewide gain in the nation, according to data from Cotality. Newark, in that report, led all major metros in year-over-year appreciation at 6.7%.
Another factor that plays in to the price surge, according to Redfin: tight regulations make it tough to build homes in the city’s suburbs, which pushes prices up.
That said, Nassau County on Long Island — also connected to the city by rail and highways — ranked as the fourth most competitive market in the U.S., with 51.6% of homes selling for more than ask.
New Brunswick, N.J., though farther from Manhattan but still connected by commuter rail, ranked No. 10 with 39.3% of homes selling above their asking prices.
Redfin adds that the COVID-era boomtowns are continuing to cool. In West Palm Beach, Fla., 6.6% of homes sold for more than ask. Austin, the capital of Texas where people flocked in 2020, saw 9.1% of homes trade hands for more than the list price.
These regions saw a surge in new construction that verged on oversupply. However, rising insurance and HOA costs, as well as the end of the remote-work era, are also pulling prices down.
