Providence Real Estate
Find your dream home for sale in the state's capital city.
Find your dream home for sale in the state's capital city.
The Providence real estate market exhibits strong competition, with homes receiving an average of 7 offers and selling within roughly 11 days. As of last month, the median sale price for a home in Providence stood at $433K, representing a 6.7% increase from the previous year. Additionally, the median sale price per square foot increased by 23.5% to $221 within the same period.
Median Sale Price
No. of Homes Sold
Median Days on the Market
Here are some of the hottest questions our buyers and sellers are asking.
As of June 2023, the housing market in Providence saw a 6.7% increase in median home prices from the previous year, with homes selling for a median price of $433K. Homes typically stayed on the market for 11 days, which is a slight improvement from the 12-day average of last year. However, the number of homes sold decreased to 133 from 205 in the previous year.
The real estate market in Providence is highly competitive. Properties are typically sold within 11 days, with several receiving multiple bids, some even waiving contingencies. On average, homes sell for approximately 4% over the asking price and become pending in roughly 11 days. More sought-after properties can fetch around 10% above the list price and go under contract in as little as 6 days.
Providence, RI, also known as the Renaissance City, is a highly appealing place to live on the East Coast, particularly due to its affordability, being 8% lower in cost of living compared to the Rhode Island average. However, it's worth noting some potential drawbacks, such as a higher-than-average crime rate, harsh winters, high sales tax, and heavy traffic.
