Providence, RI 02906 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. median sold price: $862,000 — The median sold price is the primary indicator of recent market value and suggests sustained price strength in 02906 despite elevated financing costs; hot market temperature appears to support upward price momentum.
2. median listing price: $989,000 vs. the median sold price highlights a pricing gap that may indicate persistent seller ambition above recent transaction levels and pricing friction between asking and closing values.
3. median days on market: 47 — A median days on market of 47 suggests moderate sales velocity; when combined with the area's described market temperature and inventory signals, this appears consistent with relatively constrained active supply and sustained buyer competition.
4. median price per square foot: $394 and median market rent: $2,400 — Price per square foot and market rent reference points indicate strong value density for both SFR and condo product in the neighborhood; however, elevated interest rate pressure (current 30-year averages ~6.8% vs. projected 5.5%–5.75%) may dampen buyer affordability even as rents and prices trend up.

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.