Paterson is a historic immigrant gateway city town of roughly 159,000 people in Passaic County, part of the Gateway region of New Jersey. Buyers find their way here when the larger Passaic County market doesn't quite have what they're looking for — and many never leave.
Pricing in Paterson follows the broader Passaic County urban-edge and suburban-commuter dynamic. The county-wide median of $525,000 is the starting point — actual sale price depends on condition, lot, school zone, and how many other Paterson buyers are competing on the same weekend.
Buyer strategy in Paterson: pre-approval first, then build a daily watch list, then be the first showing on opening weekend. Seller strategy: don't chase the market down — list at value, hit the first weekend hard, and adjust quickly if showings aren't converting.