Is East Providence, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, East Providence has remained a Seller's Market.
Housing Prices in East Providence, RI
How much do homes in East Providence, RI cost?
Median Sold Price
$410,000
$264/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in East Providence was $410,000 in May 2024, up 7.8% from last year, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $236K | $295K | +25.0% |
2 Bedrooms | $310K | $338.5K | +9.2% |
3 Bedrooms | $380K | $410K | +7.9% |
4 Bedrooms | $405K | $455K | +12.3% |
5+ Bedrooms | $499.9K | $500K | 0.0% |
Summary: East Providence housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
East Providence | $380.2K | $410K | +7.8% |
Seekonk | $494K | $530K | +7.3% |
Barrington | $646.6K | $689.5K | +6.6% |
Riverside | $375K | $390.5K | +4.1% |
Rumford | $437.5K | $445K | +1.7% |
Housing Supply in East Providence, RI
How many homes are available in East Providence, RI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
119 | 138 | +16.0% |
Summary: The East Providence real estate market had 138 homes for sale in May 2024, a 16.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 20 | 24 | +20.0% |
3 Bedrooms | 65 | 73 | +12.3% |
4 Bedrooms | 20 | 23 | +15.0% |
5+ Bedrooms | 12 | 16 | +33.3% |
Summary: The East Providence housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
36 | 42 | +16.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 42 homes were sold or pending in East Providence in May 2024, up by 16.7% month-over-month. Of the 42 sold homes, 21% were sold under asking, 5% were sold at asking, and 74% were sold over asking.
Days on Market for East Providence, RI
How long does it take to sell a home in East Providence, RI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 22 Days | +15.5% |
Summary: Homes in East Providence had an average of 22 days on market in May 2024, up by 15.5% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 42 homes were sold in East Providence; 74% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.