Is North Providence, RI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Providence is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, North Providence has remained a Seller's Market.

Key Takeaway

North Providence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in North Providence, RI

How much do homes in North Providence, RI cost?

Median Sold Price

$370,000

$221/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$37,100(+11.1%)

Key Takeaway

Homes in North Providence have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in North Providence was $370,000 in February 2024, up 11.1% from last year, and the median price per square foot was $221.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $150K$167.5K
+11.7%
2 $257.5K$310K
+20.4%
3 $360K$387K
+7.5%
4 $390K$440K
+12.8%
5+ $430K$499K
+16.0%

Summary: North Providence housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.7%, 2 bedroom homes increased by 20.4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 16%.

Median Sold Price Compared To Nearby Cities

North Providence
+11.1%
Providence
+10.4%
Johnston
+6.8%
Pawtucket
+6.1%
Smithfield
+3.7%

Housing Supply in North Providence, RI

How many homes are available in North Providence, RI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7989+12.7%

Summary: The North Providence real estate market had 89 homes for sale in February 2024, a 12.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 1214
+16.7%
2 2731
+14.8%
3 2827
-3.6%
4 611
+83.3%
5+ 66
0.0%

Summary: The North Providence housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 14.8%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 83.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2226+18.2%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Providence, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.

Summary: A total of 26 homes were sold or pending in North Providence in February 2024, up by 18.2% month-over-month. Of the 26 sold homes, 38% were sold under asking, 8% were sold at asking, and 54% were sold over asking.

Days on Market for North Providence, RI

How long does it take to sell a home in North Providence, RI?

Average Sale Time

Feb 2023Feb 2024CHANGE
37 Days35 Days-6.1%

Summary: Homes in North Providence had an average of 35 days on market in Feb 2024, down by 6.1% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in North Providence are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 26 homes were sold in North Providence; 54% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in North Providence, RI

Nearby Markets to North Providence, RI

What housing markets are near North Providence, RI?