The Paterson housing market is somewhat competitive. The median sale price of a home in Paterson was $550K last month, up 24.2% since last year. The median sale price per square foot in Paterson is $277, up 35.5% since last year.
What is the housing market like in Paterson today?
In April 2024, Paterson home prices were up 24.2% compared to last year, selling for a median price of $550K. On average, homes in Paterson sell after 59 days on the market compared to 83 days last year. There were 54 homes sold in April this year, up from 42 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$550,000
+24.2% YoY | Apr 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Apr 2024
Growth
% YoY
Paterson, NJ
$550,000
+24.2%
United States
To compare other locations to the Paterson and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Paterson add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Paterson housing market?
Paterson is somewhat competitive. Homes sell in 60.5 days.
0
100
49
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Some homes get multiple offers.
The average homes sell for about 4% above list price and go pending in around 61 days.
Hot homes
can sell for about 9% above list price and go pending in around 24 days.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
Home offer insights for Paterson
Explore recent offers and recently sold homes in Paterson
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Paterson housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Paterson.
Risk Factor
Flood Factor - Extreme
28% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Paterson has an extreme risk of flooding. 5,235 properties in Paterson are likely to be
severely affected
by flooding over the next 30 years. This represents 28% of all properties in Paterson. Flood risk is increasing slower than the national average.
<1% of properties are at risk of wildfire over the next 30 years
Fire Factor
Paterson has a moderate risk of wildfire. There are 199 properties in Paterson that have some risk of being affected by wildfire over the next 30 years. This represents <1% of all properties in Paterson.
98% of properties are at major
risk of a severe wind event over the next 30 years
Wind Factor
Paterson has a Major Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Paterson is most at risk from hurricanes. 25,024 properties in Paterson have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 81 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 90 mph.