$10,000 Closing Credit*
$1,250,000
2,540 SqFt
3 Beds
•3 Full Baths, 2 Partial
Jennie Lee, Listing Office: Mega Realty & Investment Inc
Is Providence, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Providence has remained a Seller's Market.
Key Takeaway
Providence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Providence, VA
How much do homes in Providence, VA cost?
Median Sold Price
$662,430
$377/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$29,375(+4.6%)
Key Takeaway
Homes in Providence have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Providence was $662,430 in November 2024, up 4.6% from last year, and the median price per square foot was $377.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $300K | +7.1% |
| 2 Bedrooms | $390.1K | $424.4K | +8.8% |
| 3 Bedrooms | $669.3K | $725K | +8.3% |
| 4 Bedrooms | $885.5K | $963.7K | +8.8% |
| 5+ Bedrooms | $1.2M | $1.3M | +8.3% |
Summary: Providence housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 8.3%.
Median Sold Price Compared To Nearby Cities
| Vienna | $1.0M | $1.1M | +12.3% |
| Fairfax | $703.9K | $771.7K | +9.6% |
| Hunter Mill | $676.8K | $730.6K | +8.0% |
| Falls Church | $700.2K | $752.9K | +7.5% |
| Providence | $633K | $662.4K | +4.6% |
Housing Supply in Providence, VA
How many homes are available in Providence, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 353 | 330 | -6.5% |
Summary: The Providence real estate market had 330 homes for sale in November 2024, a 6.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 50 | 49 | -2.0% |
| 2 Bedrooms | 89 | 84 | -5.6% |
| 3 Bedrooms | 85 | 79 | -7.1% |
| 4 Bedrooms | 65 | 61 | -6.2% |
| 5+ Bedrooms | 64 | 57 | -10.9% |
Summary: The Providence housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 2%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 6.2%, and 5+ bedroom homes decreased by 10.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 123 | 107 | -13.0% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
47 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Providence, you could pay more than the asking price. 43.9% of homes here sold above asking price last month.
Summary: A total of 107 homes were sold or pending in Providence in November 2024, down by 13.0% month-over-month. Of the 107 sold homes, 36% were sold under asking, 21% were sold at asking, and 44% were sold over asking.
Days on Market for Providence, VA
How long does it take to sell a home in Providence, VA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 14 Days | 23 Days | +64.8% |
Summary: Homes in Providence had an average of 23 days on market in Nov 2024, up by 64.8% compared to last year.
Breakdown of Home Sale Times
78 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Providence are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 107 homes were sold in Providence; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
