Is Providence County, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Providence County has remained a Seller's Market.
Key Takeaway
Providence County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Providence County, RI
How much do homes in Providence County, RI cost?
Median Sold Price
$410,134
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Providence County have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Providence County was $410,134 in March 2024, up 8.4% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $227.5K | +3.4% |
| 2 Bedrooms | $300.3K | $335K | +11.6% |
| 3 Bedrooms | $374.6K | $402.2K | +7.4% |
| 4 Bedrooms | $406.5K | $437K | +7.5% |
| 5+ Bedrooms | $451K | $517.1K | +14.7% |
Summary: Providence County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 14.7%.
Median Sold Price Compared To Nearby Counties
| Bristol County | $531K | $610K | +14.9% |
| Windham County | $284.8K | $316.8K | +11.2% |
| Kent County | $354K | $385.6K | +8.9% |
| Providence County | $378.4K | $410.1K | +8.4% |
| Bristol County | $449.8K | $478.9K | +6.5% |
Housing Supply in Providence County, RI
How many homes are available in Providence County, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,310 | 1,335 | +1.9% |
Summary: The Providence County real estate market had 1,335 homes for sale in March 2024, a 1.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 60 | 64 | +6.7% |
| 2 Bedrooms | 253 | 244 | -3.6% |
| 3 Bedrooms | 487 | 514 | +5.5% |
| 4 Bedrooms | 231 | 235 | +1.7% |
| 5+ Bedrooms | 279 | 278 | -0.4% |
Summary: The Providence County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.7%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 0.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 345 | 389 | +12.8% |
Asking Price vs. Sold Price
94 Homes Were Sold
Under Asking
61 Homes Were Sold
At Asking
234 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Providence County, you could pay more than the asking price. 60.2% of homes here sold above asking price last month.
Summary: A total of 389 homes were sold or pending in Providence County in March 2024, up by 12.8% month-over-month. Of the 389 sold homes, 24% were sold under asking, 16% were sold at asking, and 60% were sold over asking.
Days on Market for Providence County, RI
How long does it take to sell a home in Providence County, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 27 Days | -17.7% |
Summary: Homes in Providence County had an average of 27 days on market in Mar 2024, down by 17.7% compared to last year.
Breakdown of Home Sale Times
283 Homes Were Sold
Under 30 Days
90 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Providence County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 389 homes were sold in Providence County; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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