Most expensive homes for sale in Newark

Buying a home is an investment—and an increasingly expensive one. The median value of a home in the United States reached $363,300 in July 2021, according to the National Association of Realtors. The market grew competitive and the price of homeownership shot out of reach for many Americans—but not for those willing to shell out big money for the most expensive homes on the market.

Homes with big price tags come with all sorts of enviable amenities. Pools, home gyms, high-tech fixtures, sweeping security systems, spacious yards, and a room for every need are luxuries most people covet. As people spent more time than ever before in their homes, these luxuries—and the cavernous square footage and yards that house them—became more desirable than ever.

The appetite for homes selling in the high six-figure range became voracious in 2020, and that trend continues into 2021, according to data from Redfin. Sales of such luxury homes increased

41.6% year-over-year in the first quarter of 2021, growing significantly more than the smaller increase for more moderately priced homes.

To learn more about home values in Newark, New Jersey, Stacker analyzed data from realtor.com to compile a list of the most expensive homes for sale in the city. Homes are ranked by price with ties broken by price per square foot.

See the most expensive homes for sale in Newark below:

#5. 16 Montrose St, Newark ($449,000)
- 4 bedrooms; 2 bathrooms; 3,042 square feet; $147 per square foot (view listing on realtor.com)

#4. 97-101 Mead St, Newark ($450,000)
- 7 bedrooms; 3 bathrooms; 1,876 square feet; $239 per square foot (view listing on realtor.com)

#3. 783 Elizabeth Ave, Newark ($459,000)
- 5 bedrooms; 7 bathrooms; 2,800 square feet; $163 per square foot (view listing on realtor.com)

#2. 879 Clifton Ave, Newark ($459,000)
- 7 bedrooms; 3 bathrooms; 1,756 square feet; $261 per square foot (view listing on realtor.com)

#1. 5 Prospect Row, Newark ($499,900)
- 3 bedrooms; 4 bathrooms; 1,808 square feet; $276 per square foot (view listing on realtor.com)