Housing Prices in Paterson, NJ
How much do homes in Paterson, NJ cost?
Median List Price
$449,900
$257/sqft
Based on all homes listed in the last 12 months.
Difference Since May 2023
Key Takeaway
The list price of homes in Paterson has increased by 28.5% since last year.
Summary: The median home list price in Paterson was $449,900 in May 2024, up 28.5% from the previous year, and the median price per square foot was $257.
Median List Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $179K | +2.3% |
| 2 Bedrooms | $299K | $310K | +3.7% |
| 3 Bedrooms | $349K | $380K | +8.9% |
| 4 Bedrooms | $422.4K | $450K | +6.5% |
| 5+ Bedrooms | $440K | $549K | +24.8% |
Summary: Paterson housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.3%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 24.8%.
Median List Price Compared To Nearby Cities
| Paterson | $350K | $449.9K | +28.5% |
| Haledon | $379.9K | $479K | +26.1% |
| Elmwood Park | $442K | $524.8K | +18.8% |
| Fair Lawn | $566K | $579.9K | +2.5% |
Housing Supply in Paterson, NJ
How many homes are available in Paterson, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 230 | 309 | +34.3% |
Summary: The Paterson real estate market had 309 homes for sale in May 2024, a 34.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 12 | 17 | +41.7% |
| 3 Bedrooms | 36 | 45 | +25.0% |
| 4 Bedrooms | 48 | 65 | +35.4% |
| 5+ Bedrooms | 128 | 175 | +36.7% |
Summary: The Paterson housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 35.4%, and 5+ bedroom homes increased by 36.7%.
Days on Market for Paterson, NJ
How long does it take to sell a home in Paterson, NJ?
Average Listing Age
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 158 Days | 84 Days | -46.6% |
Summary: Homes in Paterson had an average listing age of 84 days in May 2024, down by 46.6% compared to the previous year.
