Providence Real Estate Market Update

Providence Real Estate Market Statistics

providencereal-estate-market-infographic

Trulia documented the following localities as the most prevalent in the Providence real estate marketplace:

  • Blackstone
  • College Hill
  • Federal Hill
  • Fox Point
  • Elmhurst

Of the neighborhoods acknowledged by Trulia, Blackstone and College Hill appear to have glazed the most attention. However, stakeholders may want to keep an eye on Wayland, whose asking price plunged more than 5 percent over the progression of a week. Those looking for bargaining agreements may want to keep an eye on Wayland to see if it is a trend worth following.

Providence Real Estate Market Summary:

  • Current Median Home Price: $241,500
  • 1-Year Appreciation Rate: 6.0%
  • Unemployment Rate: 6.2%
  • 1-Year Job Growth Rate: 1.9%
  • Population: 177,994
  • Median Household Income: $55,055

Providence Real Estate Market Recent Updates

The Providence real estate market, it was trapped in neutral. For all purposes, it was a stationary market with no real signs of development on the horizon. However, Rhode Island ‘s housing marketplace has made stable improvements since the start of this year, thanks in large part to Providence. In Providence, the figure of single-family house sales was up 10 percent in the East Side, and down 5 percent in the remainder of the city. The East Side’s median household price plunged 4 percent to $446,025, down from $463,500 a year before; in the rest of the Providence city, the median house price ascended by 14 percent.

  • Homes bought in the Providence housing market one year ago have appreciated, on average, by $17,076. The nationwide average was $14,170 over the similar timespan.
  • Homes bought in the Providence housing market three years ago have appreciated, on average, by $44,668. The national average was $53,857 over the same period.
  • Homes purchased in the Providence housing market five years ago have appreciated, on average, by $37,799. The national average was $48,036 over the same period.
  • Homes purchased in the Providence housing market seven years ago have depreciated, on average, by $6,456. The national average increased $13,870 over the same period.
  • Homes purchased in the Providence housing market nine years ago have actually depreciated, on average, by $15,532. The national average also declined $2,822 over the same period

Looking to Buy Or Sell in Providence, Rhode Island  fill out the form below or just contact me via phone 401 660 9752

 

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Providence, Rhode Island Real Estate

 

The city was founded in 1636 by Roger Williams, the English political leader, and theologian who fled religious persecution in neighboring Massachusetts and settled the city with a policy of religious and political freedom. Alongside its rich history and vintage architecture, Providence has a creative and cosmopolitan character thanks to demographic diversity and a cadre of top colleges and universities that draw thousands of students each year.

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Economists at Realtor.com considered at former tendencies, housing and economic data for the 100 largest markets in the country to conclude which cities would be considered “hot spots” next year, by expecting prospect home sales and rates.

Providence is at the topmost of the list and Boston ends up in the top 10.

Eyewitness News interviewed with an expert, who said Providence’s Real estate market is due for a burst of progress – to some degree that could be worthy news for those considering to purchase or sell.

“It’s Rhode Island’s period, and it has been for a span of time however for whatsoever reason no one’s observed it,” said real estate agent Martone.

Martone and other previous presidents of the RI Association of Realtors said Providence’s utmost assets are its locality between Boston and New York and its reasonably priced homes.

All around, from the standpoint of a good real estate market in overall,” he said. “(It’s) a popular town and people want to be in Providence, they truly do.”

If you’re in the marketplace for a new home, look no more than the city of Providence.

“We’ll have a pleasant, solid real estate marketplace and you’ll be able to get a nice home in Providence and the adjacent towns for reasonable money at a wonderful interest rate,” Martone said.

Looking to buy or sell in Providence, Rhode Island?  Contact me today!

 

 

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The house offers over 9,000 square feet of living space on four levels with access to outdoor patios, terraces and balconies from many rooms. The house is ideal for small gatherings as well as for large scale entertaining indoors and out. The residence offers six bedrooms, six full baths and one half-bath. The lower level features a finished recreation room and pub, an exercise room, spa and darkroom, and access to the swimming pool and lovely grounds.  

  • Baths: 6 full, 1 half
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4 bedrooms,3 baths home in Providence, RI

This beautiful newer home offers luxury living in Providence.  1 st floor offers formal living room and dining room a family room/office or an extra room, eat in kitchen with granite counter tops and tile backsplash, full bathroom and access to the deck through the sliding doors. 2nd floor offers  3 full size rooms with closets, 2nd full bath with stand up shower and tub, master suite with his and hers closet and full bathroom with Jacuzzi tub.  Central Air with 2 zones, fenced in yard with pool and patio. Motivated Sellers  This home is  Absolutely Fabulous!  For more information and pictures visit Click Here

 

 

If you are considering selling your home this year,  let’s get together to discuss how you can capitalize on current market conditions. Contact me TODAY!