Name: Off-Market Within 2 Weeks — ZIP 07108 Multi-Family (2-4 Unit), March 31, 2026
Creator: Range Ranger
Published: 2026-03-31
License: https://redfin.com/news/data-center

Question 1

What share of homes in Newark (07108) went off-market within 2 weeks?

Accepted Answer

In ZIP 07108, 12.5% of Multi-Family (2-4 Unit) homes went under contract within two weeks of listing for the 90-day period ending 2026-03-31, based on Redfin closed sale data.

Question 2

What does the off-market-within-2-weeks rate in 07108 mean for sellers?

Accepted Answer

An off-market-within-2-weeks rate of 12.5% means that share of Multi-Family (2-4 Unit) homes in ZIP 07108 went under contract within 14 days of hitting the market, based on closed transactions in the 90-day period ending 2026-03-31. A higher rate signals a faster-moving market where homes are being absorbed quickly. A lower rate means most homes take longer to find a buyer.

Question 3

How is the off-market-within-2-weeks rate in 07108 calculated?

Accepted Answer

The off-market-within-2-weeks rate for ZIP 07108 counts the share of closed Multi-Family (2-4 Unit) sale transactions where the home went under contract within 14 days of its list date, over the 90-day period ending 2026-03-31. It is derived from closed transaction data recorded by Redfin — not from active listings or estimates.

Question 4

Is the off-market-within-2-weeks rate in 07108 higher or lower than last year?

Accepted Answer

The share of Multi-Family (2-4 Unit) homes in ZIP 07108 going under contract within two weeks is down 9.7 percentage points compared to the same 90-day period one year ago, as of March 31, 2026. A rising rate means more homes are being absorbed quickly; a falling rate means buyers are taking longer to commit.

Question 5

How many homes does the off-market-within-2-weeks rate in 07108 represent?

Accepted Answer

The off-market-within-2-weeks rate of 12.5% is derived from 26 closed Multi-Family (2-4 Unit) transactions in ZIP 07108 for the 90-day period ending 2026-03-31. Approximately 3 of those 26 homes went under contract within two weeks of listing. Data source: Redfin.

Question 6

How does the off-market-within-2-weeks rate in 07108 relate to pending sales?

Accepted Answer

In ZIP 07108, there were 32 pending Multi-Family (2-4 Unit) sales as of the 90-day period ending 2026-03-31. Of the homes that eventually closed, 12.5% went under contract within two weeks of listing. Pending sales reflect current demand; the off-market-within-2-weeks rate reflects how quickly that demand was converting during the data period.

Only 12.5% of homes in 07108 went under contract within 2 weeks.