Providence, RI 02905 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. 376,950 is the neighborhood's median sold price and serves as the primary indicator of realized market value for recent transactions; the gap versus the 450,000 median listing price suggests pricing friction between seller expectations and closed deals.
2. Market velocity appears healthy but not rapid: 46 median days on market indicates a moderate sales tempo that may indicate measured buyer competition despite the broader hot market temperature.
3. Pricing density shows a 187 median price per square foot, which combined with a 1,850 median market rent points to persistent demand for both owner-occupied and rental SFR/condo product in the area.
4. Interest rate conditions are a headwind: elevated interest rate pressure and an average 30-year fixed mortgage rate of 6.81% may temper some buyer affordability even as the market remains hot; inventory appears relatively constrained in the sampled dataset, which may support near-term price resilience.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.