Paterson NJ

Paterson NJ Housing Market: Prices, Inventory and Trends

Paterson home prices range from about $457,000 to $600,000 depending on the source and the measure. This guide explains what each figure means and where the numbers come from.

Housing Ledger Editorial

13 Oct 2026 • 6 min read

The Paterson NJ housing market has no single price, because each data provider measures something different. If you searched for one number, you will find three, and each answers a different question. Zillow's median home value was $536,737 as of August 2026 ^[1]. That is an estimate of typical home values, not a sale price. For the next step, see Loveland, CO Housing Market: Prices, Supply and Trends.

Realtor.com's median listing price was $457K ^[2]. This figure covers homes currently listed for sale. Listing prices show what sellers are asking, which can sit above or below the final sale price.

Resideline's median sale price over six months was $600,000 ^[3]. Because it counts closed sales over six months, it shows what buyers paid over a longer window rather than a single month.

Why do Paterson home price figures differ?

Paterson's price figures differ mainly because each one measures something different, so a gap between them does not mean one source is wrong. Before you compare numbers, check what each one represents and the period it covers.

Zillow's figure is an estimate of typical home values, not a sale price ^[1]. It tells you what a typical home in Paterson is valued at, not what any buyer paid. If you want to know what a specific house sold for, this number will not answer that.

Redfin's average sale price was $493K last month, down 4.4% from the prior period ^[4]. An average is built from actual sales, so a few very expensive or very cheap sales can shift it noticeably. A one-month window also includes fewer sales than a longer one, which makes it more sensitive to short-term swings.

Resideline's $600,000 median covers 365 closed sales over six months ^[3]. A median is the middle sale: half the sales were priced higher and half lower. Because the window spans half a year, the figure reacts slowly and reflects sales from earlier in the period.

Compare like with like

Compare only figures that use the same measure and period.

Pick one source and one date range, then compare its figures over time. For example, if you want to know whether the latest month was cheaper than the month before, use one source's monthly sale figures for both months, not a six-month median from a different site.

A Paterson price figure that does not state its date range or definition is only a rough reference, not a direct comparison. Set it aside until you can match it to a figure with the same basis.

An appraiser with a clipboard measures the exterior of a two-story house on a Paterson sidewalk.

How many homes are for sale in Paterson?

Realtor.com lists 320 homes for sale in Paterson ^[2], while Homes.com lists 266 ^[5]. Because the two counts differ, don't treat either one as the final number until you've checked both pages.

The Realtor.com figure comes with a monthly trend. Listings on that page rose 1.90% month over month ^[2]. For a buyer, that means supply on that site grew slightly in the latest monthly comparison, which is a small move rather than a sharp change.

The Homes.com figure is lower. A buyer who saw only the 266 number might assume Paterson has fewer choices than it does on the other site. That gap is about how each site counts, not necessarily about how many homes are actually available.

Each site collects and updates its listings on its own schedule. One page may include homes the other has already removed, or it may not yet show homes the other has added. A gap between two sites is therefore more likely to reflect timing and coverage than a real change in the market.

How to compare the two counts

Open each listing page and note the date it shows. If one page reflects new listings that the other does not yet show, the difference is about timing, not about the market.

Once you have two counts from the same date, you can compare them directly. Track the same site each month, so the trend reflects changes in the market rather than differences between sites.

A red and white for-sale sign stands in front of a brick house on a city street in Paterson, New Jersey.

What kinds of homes are in Paterson?

Most homes in Paterson are in buildings with several units, not in single-family houses. Multi-family units make up 80.3% of Paterson's housing units ^[6].

For a buyer, that split changes how you search. If you want a house with its own yard and no shared walls, you are looking at the smaller share of the market. Expect fewer single-family listings to compare, so you may need to widen your neighborhood options or your list of property types before you find one that fits.

What the mix means for your search

A market dominated by multi-family buildings gives you a different set of choices. You will see more units with shared walls, hallways, and common areas, and fewer houses that stand alone on their own lot. If you have decided you want a single-family home, that goal alone cuts down the number of properties you can review.

Consider a buyer who sets a firm rule of "only single-family homes." That rule can leave a short list, and the search may take longer than expected. Naming a second choice in advance, such as a multi-family unit you would still consider, keeps the search moving.

How to compare the two types

Multi-family and single-family homes are not interchangeable, so compare them on the same terms. Ask how the building is shared, who pays for common areas, and what rules apply to shared spaces. These answers affect your monthly costs and how much control you have over your unit.

If you are looking at a multi-family property as an investment, the mix matters too. Many of the rentals and sales you compare will be built the same way, so a few side-by-side visits will show you the differences quickly. Look at several units before you decide which type suits your budget and daily life.

Are Paterson home prices rising or falling?

Paterson's prices are not moving in one direction, and the answer depends on which source and date you use. The latest Zillow reading shows a small gain, while Redfin's average shows a drop. Read each figure with its date before you decide what it means.

The latest monthly change

Zillow reported a 0.6% monthly increase in August 2026 ^[1]. That means prices rose slightly that month, not that the market is booming. For a buyer, a flat or slightly rising median suggests prices are not falling quickly.

One reading alone is not a trend. Zillow's monthly figures are most useful when you look at the direction over several months.

Redfin's average price drop

Redfin reported the average Paterson house price down 4.4% over its latest comparison ^[4]. A drop like this can give a buyer more room to negotiate, though that depends on the specific home. An average can also fall because of which homes sold, not only because prices changed.

So a single average tells you less than a trend across several periods does. Treat it as one piece of evidence, not the full picture.

Older and unverified benchmarks

Zillow's median was $437,255 as of November 2023 ^[7].

Exprealty says the median home price has risen about 48.6% to $549,900 over the past year ^[8]. It does not say which months that covers, so it is a rough signal rather than a measured trend.

What this means for you

Taken together, the recent data points to modest movement rather than a clear rise or fall. Use the most recent dated figure, and compare only numbers that share a measure and period.

Any forecast of future Paterson prices is uncertain. The figures above describe the past only, so they cannot tell you where prices will go.

How should you read these numbers before you decide?

Read each Paterson figure only next to figures that use the same measure and date. A median home value, a median listing price and an average sale price answer different questions, so setting them side by side can make the market look more or less expensive than it is.

Before you decide, open the source page behind each number and note its date and how it defines its measure. Start with the official or source page that shows that date and definition, then compare only matching pairs. For a side-by-side view with other New Jersey cities, the Jersey City housing market guide explains that city's figures so you can compare them with Paterson's.