Is Providence County, RI 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 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
$415,071
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Providence County have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Providence County was $415,071 in April 2024, up 9.2% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $230K | +4.5% |
| 2 Bedrooms | $302.1K | $335K | +10.9% |
| 3 Bedrooms | $374.9K | $406.2K | +8.3% |
| 4 Bedrooms | $408.1K | $440K | +7.8% |
| 5+ Bedrooms | $454.7K | $525K | +15.5% |
Summary: Providence County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 15.5%.
Median Sold Price Compared To Nearby Counties
| Bristol County | $538.3K | $615K | +14.2% |
| Windham County | $286.8K | $319.4K | +11.4% |
| Kent County | $353.5K | $389.9K | +10.3% |
| Providence County | $380K | $415K | +9.2% |
| Bristol County | $449.9K | $480.4K | +6.8% |
Housing Supply in Providence County, RI
How many homes are available in Providence County, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,407 | 1,471 | +4.5% |
Summary: The Providence County real estate market had 1,471 homes for sale in April 2024, a 4.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 69 | 84 | +21.7% |
| 2 Bedrooms | 260 | 272 | +4.6% |
| 3 Bedrooms | 530 | 550 | +3.8% |
| 4 Bedrooms | 242 | 273 | +12.8% |
| 5+ Bedrooms | 306 | 292 | -4.6% |
Summary: The Providence County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.7%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes decreased by 4.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 408 | 444 | +8.8% |
Asking Price vs. Sold Price
111 Homes Were Sold
Under Asking
75 Homes Were Sold
At Asking
258 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Providence County, you could pay more than the asking price. 58.1% of homes here sold above asking price last month.
Summary: A total of 444 homes were sold or pending in Providence County in April 2024, up by 8.8% month-over-month. Of the 444 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 30 Days | -6.3% |
Summary: Homes in Providence County had an average of 30 days on market in Apr 2024, down by 6.3% compared to last year.
Breakdown of Home Sale Times
311 Homes Were Sold
Under 30 Days
99 Homes Were Sold
In 30 - 90 Days
33 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 April 2024, 444 homes were sold in Providence County; 70% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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