Why Live in Old Great Falls
Old Great Falls in Paterson, New Jersey, is characterized by its proximity to park spaces and the Passaic River, creating an outdoorsy atmosphere that appeals to those seeking a break from urban life. The neighborhood is intersected by Interstate 80, providing convenient access for commuters, and connects with Route 19 near the Paterson train station, facilitating travel to Hoboken and Suffern via New Jersey Transit. The area is highly walkable, with buses running along McBride Avenue and Grand Street. Local attractions include the Paterson Great Falls Observation Deck, Pennington Park, and the expansive Garret Mountain Reservation, which features hiking trails, an equestrian center, and Lambert Castle.
Old Great Falls has a variety of dining options, from La Llama Bakery & Deli’s Latin American treats to Mexico Bar & Grill’s vibrant Mexican cuisine, and Avocado Eatery’s eclectic menu. For shopping, residents can visit Center City Mall, located one mile west, which houses a Price Rite grocery store. The neighborhood’s housing reflects its working-class roots, with a mix of multi-family homes and single-owner properties. Two-bedroom townhouses range from $345,000 to $415,000, while larger single-family homes can reach up to $700,000. Multi-family homes, some with up to eight bedrooms, are priced between $900,000 and $950,000.
The neighborhood is undergoing revitalization, contributing to its growing appeal among new residents from areas like the Bronx, Brooklyn, and Washington Heights.
Home Trends in Old Great Falls, NJ
On average, homes in Old Great Falls, Paterson sell after 20 days on the market compared to the national average of 70 days. The median sale price for homes in Old Great Falls, Paterson over the last 12 months is $404,520, up 33% from the median home sale price over the previous 12 months.
Median Sale Price
$404,520
Median Single Family Sale Price
$404,520
Median Townhouse Sale Price
$385,000
Average Price Per Sq Ft
$227
Number of Homes for Sale
5
Last 12 months Home Sales
15
Median List Price
$390,000
Median Change From 1st List Price
3%
Median Home Sale Price YoY Change
33%
