Paterson, NJ Home Values & Market Trends
Real estate market trends reflect that there have been 858 transactions over the past year in Paterson. The median value for residential home transactions that occurred over the previous year is $459,324.61. The number of current listings in Paterson is 28, and the percentage of properties for sale in the city is 28.00%. Paterson, NJ currently has 289 properties in foreclosure, 1 bank owned properties, 30 properties headed for auction, and 28 properties for sale.
Paterson, NJ Real Estate Market Overview
Housing Market Summary for Paterson, NJ
Apr 2023 | March 2024 | Change | |
---|---|---|---|
Median Listing Price | $399.4K | $448.9K | 12.39% |
Median Sold Price | $388.6K | $448.9K | 15.53% |
Homes For Sale | 44 | 27 | -38.64% |
Homes Sold | 428 | 444 | 3.74% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
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Browse Homes in Paterson, NJ
Paterson home values range from $180,100 to $959,700. The median estimated value of a home in Paterson is $459,324.61. The median list price of a home is 409,000, and the total count of properties in the city is 18,295.
- Pre-ForeclosurePre-foreclosure homes account for 1.41% of all residential properties in Paterson, NJ with 07501 containing 58 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 9 zips within Paterson, NJ; of those zips, the estimated home value for pre-foreclosure homes ranges from $645,400 in 07504 to the lowest home value of $186,400 in 07522.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Paterson, NJ ranges from the highest value of $615,900 in 07501 to the lowest value of $615,900 in 07501. Bank owned homes and properties account for 0.01% of properties in Paterson, NJ. There are 9 zips within Paterson, NJ; 07501 containing 1 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions07501 has 6 auction properties, the highest number of properties going to auction in a single zip in the state of Paterson, NJ. Auction homes and other auction properties account for 0.16% of all properties in Paterson, NJ. There are 9 zips within Paterson, NJ; of those zips, the median estimated home value for homes going to auction ranges from $658,500 in 07504 to the lowest value of $220,400 in 07504.
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Guide for Paterson, NJ
The Newark real estate market from 2023 to 2024 exhibited a strong upward growth pattern, with slight fluctuations in property values and sale price per square foot.
The Jersey City real estate market continues to show robust growth with prices rising to an average of $595,000 per property and $394 per square foot in February 2024.
Information on foreclosure financing, refinancing, and foreclosure mortgages.
Market report of Savannah, GA, a real estate market that has shown consistent growth, with the average property value reaching nearly $400,000.