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

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s