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

Housing Market Conditions



Gauge showing Providence is a seller's market


Difference Since January 2022

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

Key Takeaway

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

How much do homes in Providence, RI cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since January 2022


Key Takeaway

Homes in Providence have sold for 13.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $240K$261.5K
2 $289K$322.9K
3 $296.1K$316.8K
4 $325.3K$381.6K
5+ $394K$460.8K

Median Sold Price Compared To Nearby Cities

North Providence

How many homes are available in Providence, RI?

Number of Homes For Sale

Dec 2022Jan 2023%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 1415
2 4745
3 8667
4 6666
5+ 133111

Number of Homes Sold

Dec 2022Jan 2023%

Asking Price vs. Sold Price

29 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

37 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Providence, you could pay more than the asking price. 44% of homes here sold above asking price last month.

Average Sale Time

Jan 2022Jan 2023%
32 Days28 Days-10.6%

Breakdown of Home Sale Times

55 Homes Were Sold
Under 30 Days

25 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Providence, RI

Providence, RI has 304 homes on the market. In January 2023 in Providence, RI there were 12.1% less homes for sale than in December 2022. While the average time on the market in January 2023 was 28 days, the median list price was $385,043. Between December 2022 and January 2023, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties increased by 9%, 2 bedrooms properties prices increased by 11.8%, 3 bedrooms properties became 7% more expensive, prices of 4 bedrooms properties went up by 17.3%, prices of 5 bedrooms properties increased by 16.9%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory increased by 7.1%, volume of 2 bedrooms homes went down by 4.3%, 3 bedrooms homes inventory decreased by 22.1%, 4 bedrooms homes did not move, number of 5 bedrooms homes decreased by 16.5%. Providence, RI housing market in January 2023 saw over 37 listings sold above listed price, more than 18 sold at listed price and over 29 sold below.

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