Paterson Housing Market Report December 2024•Passaic County, New Jersey

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Housing Prices in Paterson, NJ

How much do homes in Paterson, NJ cost?

Median List Price

Median List Price
This is the middle price for which all homes in a given area are listed. Half of all the homes sold were below this price, and half were above.
$475,000$234/SqFt
+$105,067
+28.4%

Based on all homes listed in the last 12 months

Insight

The list price of homes in Paterson has increased by 28.4% since last year.

Summary: The median home list price in Paterson was $475,000 in December 2024, up 28.4% from the previous year, and the median price per square foot was $234.

Median List Price By City

Median List Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Paterson
+28.4%
Haledon
+26.5%
Elmwood Park
+19.2%
Fair Lawn
+13.2%

Median List Price By Bedrooms

Median List Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$172.5K$199K
+15.4%
2$309.9K$319K
+2.9%
3$375K$425K
+13.3%
4$440K$464.9K
+5.7%
5$425K$599K
+40.9%

Summary: Paterson housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +15.4%. The home price for 2 bedroom homes increased by +2.9%. The home price for 3 bedroom homes increased by +13.3%. The home price for 4 bedroom homes increased by +5.7%. The home price for 5 bedroom homes increased by +40.9%.

Housing supply in Paterson, NJ

How many homes are available in Paterson, NJ?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
229Last MonthDec 2024
2042 months agoNov 2024
+12.3 %
Change MoMNov – Dec

Summary: The Paterson real estate market had 229 homes for sale in Dec 2024, a 12.3 % increase compared to Nov 2024.

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
123
+50.0%
22221
-4.5%
34238
-9.5%
42437
+54.2%
5114130
+14.0%

Summary: Paterson housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes increased by +50.0%. The inventory for 2 bedroom homes decreased by -4.5%. The inventory for 3 bedroom homes decreased by -9.5%. The inventory for 4 bedroom homes increased by +54.2%. The inventory for 5 bedroom homes increased by +14.0%.

Asking Price vs. Sold Price

How much do homes in Paterson, NJ cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price9 Homes

At Asking Price0 Home

Under Asking Price5 Homes

Insight

If you're buying a home in Paterson, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Paterson in December 2024, up by 16.7% month-over-month. Of the 14 sold homes, 36% were sold under asking, 0% were sold at asking, and and 64% were sold over asking.

Days on Market for Paterson, NJ

How long does it take to sell a home in Paterson, NJ?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days1 Home

Over 90 Days0 Home

Insight

Avg time on Rocket Homes in Paterson has remained consistent over time.

Summary: During December 2024, 14 homes were sold in Paterson; 0% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Listing Age

Average Listing Age
This is the average number of days an active home has been on the market.
This Year1 year agoChange YoY
88 DaysThis YearDec 2024
154 Days1 year agoDec 2023
-42.6 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Paterson had an average listing age of 88 days in Dec 2024, down by 42.6% compared to the previous year.

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Newest Listings in Paterson, NJ

What homes are available in Paterson, NJ?

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Nearby markets

Popular Cities with Homes for Sale in New Jersey

MLS Disclaimers and Copyright

Based on information from New Jersey MLS, Garden State MLS, BrightMLS, and Realty Multiple Listing System Inc. for the period 01/01/2023 - 01/01/2025

IDXDisclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing Service, Inc. Copyright© 2025 New Jersey Multiple Listing Service, Inc. All rights reserved.

Rocket Homes Real Estate, 701 Griswold St, Suite 21, Detroit, MI 48226

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.

Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as an IDX Listing. Information deemed reliable but not guaranteed.

Notice: The dissemination of listings displayed herein does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:20:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2025 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:24:07 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXThe data relating to real estate for sale or rent on this web site comes in part from the IDX program of the HCMLS. Real estate listings held by brokerage firms other than this broker are marked with the HCIDX mark and the information about them includes the name of the listing broker. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright © 2025 Realty Multiple Listing System, Inc. Incorporated in 1952 (aka RMLS, Hudson County MLS). All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:15:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.