Is Providence, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Providence has remained a Seller's Market.
Housing Prices in Providence, VA
How much do homes in Providence, VA cost?
Median Sold Price
$629,665
$365/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Providence was $629,665 in April 2024, up 0.6% from last year, and the median price per square foot was $365.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $270K | $291K | +7.8% |
2 Bedrooms | $385K | $409.7K | +6.4% |
3 Bedrooms | $635K | $697.8K | +9.9% |
4 Bedrooms | $875K | $920.5K | +5.2% |
5+ Bedrooms | $1.1M | $1.2M | +8.5% |
Summary: Providence housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.8%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 8.5%.
Median Sold Price Compared To Nearby Cities
Fairfax | $671.4K | $725K | +8.0% |
Hunter Mill | $657.6K | $702.7K | +6.9% |
Falls Church | $687.6K | $731.3K | +6.4% |
Vienna | $1.0M | $1.0M | +3.1% |
Providence | $625.7K | $629.6K | +0.6% |
Housing Supply in Providence, VA
How many homes are available in Providence, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
302 | 409 | +35.4% |
Summary: The Providence real estate market had 409 homes for sale in April 2024, a 35.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 59 | 64 | +8.5% |
2 Bedrooms | 70 | 92 | +31.4% |
3 Bedrooms | 74 | 100 | +35.1% |
4 Bedrooms | 49 | 70 | +42.9% |
5+ Bedrooms | 50 | 83 | +66.0% |
Summary: The Providence housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.5%, 2 bedroom homes increased by 31.4%, 3 bedroom homes increased by 35.1%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 66%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
103 | 120 | +16.5% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
79 Homes Were Sold
Over Asking
Summary: A total of 120 homes were sold or pending in Providence in April 2024, up by 16.5% month-over-month. Of the 120 sold homes, 20% were sold under asking, 14% were sold at asking, and 66% were sold over asking.
Days on Market for Providence, VA
How long does it take to sell a home in Providence, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
16 Days | 10 Days | -32.4% |
Summary: Homes in Providence had an average of 10 days on market in Apr 2024, down by 32.4% compared to last year.
Breakdown of Home Sale Times
111 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 120 homes were sold in Providence; 93% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.