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Providence

Why you'd want to live in Providence

Introduction to Providence, Rhode Island Founded in 1636 by the clergyman Roger Williams, Providence is the capital of the state of Rhode Island. Providence is also the largest city in Rhode Island with a population of nearly 180,000 people, and the second largest city in New England. According to U.S. Census estimates, the Providence metropolitan area is one of the 35 largest in the United States. Providence is located in east/central Rhode Island on the Providence River, which leads into Narragansett Bay. It is about an hour drive southwest from Boston, Massachusetts, and 50 minutes southeast of Worcester, Massachusetts. There are two Fortune 1000 corporate headquarters located in Providence, and several others in surrounding communities. Providence's climate is characterized by four distinct seasons. Winters are cold and summers tend to be hot and humid. January is the coldest month of the year with an average daily temperature of 37 degrees Fahrenheit. July is the warmest month of the year with an average daily temperature of 82 degrees Fahrenheit. Providence's close proximity to the Atlantic Ocean, at the head of Narragansett Bay, tends to moderate its weather a bit, making winters warmer and summers a little cooler than other parts of inland New England. Providence Arts and Entertainment For a city of modest size, Providence provides a good assortment of arts and cultural offerings. Some of the more notable include: The Museum of Art at the Rhode Island School of Design (RISD) The Providence Children's Museum The Providence Dunkin' Donuts Center, a venue for music and more The Providence Performing Arts Center The Rhode Island Philharmonic The Roger Williams Park and Zoo The Trinity Repertory Company Providence is also a relatively short drive to all of the arts and cultural offerings of Boston, and Worcester, Massachusetts to the north.

Providence Market Report

$513,887

AVERAGE PRICE OF 491 HOMES

$252,900

AVERAGE PRICE OF 10 DISTRESSED HOMES

$1,770,778

AVERAGE PRICE OF 36 MULTI-MILLION DOLLAR HOMES

$546,836

AVERAGE PRICE OF 37 NEWLY BUILT HOMES

$376,600

AVERAGE PRICE OF 3 HOMES WITH A POOL

$533,290

AVERAGE PRICE OF 10 REDUCED PRICE HOMES

Average Home

Average Price $513,887
Avg Bedrooms 3.65 beds
Avg Bathrooms 2.07 baths

Average Price by Bedrooms

1 bedroom $343,057
2 bedrooms $483,870
3 bedrooms $384,358
4 bedrooms $450,873
5 bedrooms $785,261
Providence Home Price Trends
  11/2022 10/2022 9/2022 8/2022 7/2022
Total Listings 534 561 601 653 674
Average Price $514,966 $506,917 $493,857 $491,352 $496,321
Avg Price Change +1.59% +2.64% +0.51% -1.01% n/a
Median Price $399,283 $394,551 $386,333 $383,918 $378,225
Med Price Change +1.20% +2.13% +0.63% +1.51% n/a
Avg Bedrooms 3.76 beds 3.75 beds 3.73 beds 3.9 beds 3.92 beds
Avg Bathrooms 2.13 baths 2.1 baths 2.07 baths 2.15 baths 2.16 baths
Home Price by House Size
Total Homes Average Price Avg Days on Site
All Homes 491 $513,887 110 days
Distressed Homes 10 $252,900 565 days
Multi-Million Dollar Homes 36 $1,770,778 121 days
Newly Built Homes 37 $546,836 130 days
Homes with a Pool 3 $376,600 45 days
Reduced Price Homes 10 $533,290 55 days
William Raveis
Steven Sitrin
268 Bellevue Avenue
Newport, RI 02840
401-222-9717

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.© 2022 State-Wide Multiple Listing Service. All rights reserved.
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