Providence, RI 02908 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

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. The neighborhood’s primary transaction indicator, the median sold price, is $386,500, which reflects recent completed activity and supports using sold prices as the primary gauge of market value; up price momentum is indicated by broader trend signals.
2. The median listing price of $457,200 versus the median sold price of $386,500 suggests pricing friction where seller expectations appear above realized transaction levels and may indicate selective negotiation or conditional concessions.
3. Liquidity shows moderate-to-slower sales velocity: the median days on market is 45, which, combined with observed listing/sale spacing, suggests moderate transaction velocity rather than rapid churn and may result in extended marketing periods for some sellers.
4. Market dynamics remain robust but nuanced: the market temperature is hot while interest rate pressure is elevated (current 30-year fixed mortgage rates are averaging approximately 6.8%), and rent trends are up with a median market rent of $2,150, indicating continued demand drivers amid higher financing costs; elevated interest rate pressure could temper buyer affordability despite strong market heat.

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.