Paterson Real Estate

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Paterson Real Estate & Homes for Sale in New Jersey

Located in Passaic County, New Jersey, the city of Paterson is the state’s third largest city and serves as the seat of the county. Currently, Paterson is home to almost 146,000 residents. During the 19th century, Paterson played a dominant role in silk production, giving the city its nickname of “Silk City.” Today, residents will find that the city offers a small-town charm complete with big and small businesses, mom-and-pop shops, and access to all the big city amenities that the New York metro has to offer. Municipalities and boroughs that serve as Paterson’s borders include the boroughs of Elmwood Park and Fair Lawn in Bergen County; and the boroughs of Woodland Park, Prospect Park, Haledon, Totowa, Hawthorne, and the city of Clifton in Passaic County. Future homebuyers will be pleased to find that Paterson’s real estate market includes listings of single-family homes, investment properties, townhomes, and condos.

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Paterson Real Estate Market Info - Prices of Houses for Sale in Paterson

Brick buildings, Cape Cod styled structures and colonial style houses are just a few of the consistent architectural styles found throughout Paterson, NJ. Future homebuyers will easily be able to find the dream home of their choice here in Paterson. The median sales price for homes and real property in Paterson currently hovers in the $274,000 range. Prices for Paterson houses start from $100,000 for a 3 bedroom colonial home to $430,000 for a two-story house complete with hardwood floors, upgraded amenities, and multiple fireplaces. Paterson townhomes and condos are priced starting in the low $140,000s. Commercial development is also available for purchase starting in the $280,000 range. Investment property and Paterson apartments are priced in the mid $145,000s.

Paterson Real Estate Stats and Trends for the week of April 19th, 2020: homes priced around $94,800 compared to $94,800 the previous week, to remain steady with no change in listing price.  For Sunday, April 19th, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.

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