Market Intelligence · NJ / Paterson

Paterson, NJ 07502 Housing Market

The typical home in Paterson, NJ 07502 is worth $540,309, up 4.3% over the past year as of 2026-08-01. Sellers are listing at a median price of $489,999, and homes are taking a median of 52 days to go under contract.

Updated August 2026Median value$540K

The median home value in Paterson, NJ 07502 is $540K as of August 2026, up 4.3% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 07502 range

$497K to $584K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+4.3% over 12 months

Typical home value in 07502 over the last 12 months: $518K in Aug 2025 to $540K in Aug 2026 (+4.3%).

Aug 2025$518K

Aug 2026$540K

The numbers

What is the 07502 housing market like?

Typical home value

$540K

Up4.3%YoY

Median list price

$490K

Down7.5%MoM

Days on market

52

Up36.8%MoM

Homes for sale

16

Down15.8%MoM

Price cuts

0.0%

Down100.0%MoM

New listings

8

Up33.3%MoM

Sources · Zillow ZHVI (August 2026) / Realtor.com (August 2026) / FRED (September 2026)

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The comparison

How do 07502 home prices compare?

  • 07502$540,309
  • Paterson$537,705
  • New Jersey$576,681
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Paterson: 8 ZIPs; New Jersey: 547 ZIPs; United States: 26,265 ZIPs).

Context

Inventory in 07502 is thin, with 16 homes for sale and 8 new listings as of 2026-08-01. The median list price of $489,999 sits below the typical home value of $540,309, which has climbed 4.3% over the past year. Homes are spending a median of 52 days on market, and 0.0% of listings have taken a price cut. That combination suggests sellers are pricing close to what buyers will pay rather than testing high and retreating. For a seller, the honest read is that a well-priced home should find a buyer, but patience over several weeks is still part of the process.

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