Providence, RI metro area Housing Market

Name: Providence, RI metro area Housing Market Data
Creator: Redfin

Warm Market

Comprehensive housing market data for the Providence, RI metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.

Data period: March 2026

Median Sale Price

$525K

↑ 6.7% YoY

Days on Market

37 days

↑ 23.3% YoY

Active Inventory

2,175

↓ 3.0% YoY

Homes Sold

972

↓ 7.5% YoY

Warm Market

The market is active with moderate buyer demand.

Providence, RI metro area Market Summary

The Providence, RI metro area housing market is heating up. As of March 2026, the median home sale price is $525K, up 6.7% year-over-year. Homes are spending a median of 37 days on the market, 23.3% longer than a year ago.

There are 2,175 homes for sale — 3.0% fewer than last year. With 2.2 months of supply, this is a seller's market. 1,467 new listings were added during this period, down 10.9% year-over-year.

Homes are selling for 99.6% of their list price on average, suggesting room for negotiation. 42.6% of homes sell above their asking price. 17.8% of listings have had a price drop.

Market Opportunity Score

Based on current market conditions

Contributing Factors

Months of Supply– 2.2

Days on Market↑ 37

Price Drops↑ 17.8%

Sale-to-List Ratio– 99.6%

Market Temperature– Warm

How This Market Compares

vs. National Median

Median Price (National: $437K)↑ 20.2%

Days on Market (National: 55)↓ 32.7%

Inventory (National: 1,314,690)↓ 99.8%

vs. Rhode Island Median

Median Price (Rhode Island: $536K)↓ 2.0%

Days on Market (Rhode Island: 42)↓ 11.9%

Investor Takeaway

This market shows balanced conditions. Evaluate individual deals carefully using rent-to-price ratios and local comps.

Providence, RI metro area Market Trends

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Detailed Market Metrics

Median List Price

$550K

Price per Sq Ft

$297

Sale-to-List Ratio

99.6%

Months of Supply

2.2

Sold Above List

42.6%

Price Drops

17.8%

New Listings

1,467

↓ 10.9% YoY

Pending Sales

1,239

Off Market in 2 Weeks

52.7%

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Housing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.