The prosperous local economy created a favorable setting for the housing market in Providence. Real estate prices are picking up, making selling property in Providence an attractive financial option. Do you wish to sell your home in Providence? Then reach out to local real estate agents in Providence RI, today! Based on the latest housing trends and comps, they can establish the rough property value you can obtain. In addition, realtors in Providence RI, will offer helpful assistance regarding every essential step at a house sale. You can forget about the annoyance of listings, online and offline marketing campaigns, showings, and open houses! Realtors in Providence RI, will take care of everything! Agents will professionally represent your best financial interests. Save money and time with local real estate agents in Providence Rhode Island!
Can you find an affordable home on the Providence real estate market?
Compared to the national average home prices, real estate in Providence is pretty affordable. We must inform you that housing prices have steadily increased over the last three years. As of February 2022, the median home sales price was approximately $350,000! The evolution of local housing trends illustrates an about 30.3 percent growth in home prices reported as of early 2022. Home sellers should also know that properties stay on the market for around 33 days and, on average, sell for two percent above the list price. Secondly, more than fifty percent of listed homes sold above their initial price.
Consequently, local real estate agents in Providence RI characterize the market as highly competitive. Are you still doubting that this is the ideal time to move to the Divine City? Then, know that Providence properties are more affordable by 27 percent than Rhode Island real estate. Furthermore, renting a home in Providence is cheaper by about two percent than apartments in the state! Based on current real estate trends, realtors in Providence RI will conclude that buying property in the area is an exceptional investment opportunity.
Does the local economy in Providence hold up?
Though the unemployment rate in Providence (8.6 percent) is slightly higher than the national average (six percent), financial analysts predict a bright economic future and considerable job growth for the city. The cost of living in Providence is approximately five percent higher than the US average. Yet, it’s lower by six percent when compared by Rhode Island’s numbers.
As we mentioned earlier, Providence retained its manufacturing traditions in industries such as silverware and jewelry. Education, finance, government, and healthcare services constitute the most prominent part of Providence’s economy. The city also hosts the SCF (Sectional Center Facility) headquarters, representing the local hub of the US Postal Services. Many nationally acclaimed businesses established local centers in Providence, for example, Textron, Fortune 500, United Natural Foods, Citizens Bank, Providence Equity, etc. In other words, Providence has turned into a promising financial center over time. It offers well-paying jobs and unique career-advancement opportunities in virtually any professional domain!
Read this before considering Providence!
One of the long-established cities in the United States, Providence was founded in 1636. Today, the city is the capital of Rhode Island, boasting the title of the largest and one of the most populated cities in the state. Citizens often refer to the city as The Divine City, Beehive of Industry, or The Renaissance City. Though initially, Providence flourished as a textile manufacturing center, its economic focus shifted more to service industries by the 21st century. The total area of Providence, situated in Providence County, is 20.58 square miles. The town hosts approximately 181,000 locals as of 2022.
One thing is for sure! There’s no shortage of compelling things to see and do in Providence, RI! For starters, Providence hosts the most donut and coffee shops per person in the US. So, you can genuinely satisfy your appetite once you move to Providence. Don’t skip the famous and spectacular WaterFire sculpture downtown! Beware, though; a tumultuous crowd around the sculpture can often block free passage. If you’re an art and literature buff, you must see The Providence Athenaeum. Stroll through the Waterplace Park and behold the majestic scenery displayed by the Providence River! Visit the Roger Williams Park Zoo to get acquainted with more than 160 animal species on about 40 acres! Your kids will adore the experience! In addition, you must also see the Providence Performing Arts Center, a historic venue for remarkable cultural performances! Ask local real estate agents in Providence RI for more information and recommendations!
What is the overall vibe of living in Providence, Rhode Island?
Let’s find an answer to the ultimate question! Is it worth settling down in Providence? Once you move to this fantastic city, you’ll undoubtedly find a home on a budget if you choose to work with local real estate agents in Providence RI. Unquestionably, there are some disadvantages to the Providence-Warwick Metro Area, such as a moderately high cost of living. Secondly, the city has to deal with somewhat increased crime rates, where they have already achieved significant improvements. Nonetheless, the advantages are countless. Budget-friendly homes? Check! Prosperous economy with enticing job opportunities? You bet! The population is well-educated and extremely friendly. Thirdly, arts and culture thrive in Providence, most of all in the extraordinary downtown area. Besides, the Barrington Public Schools provide Renaissance City’s youngest generations with a first-class education. Finally, experiencing the New England seasons wraps the city’s perks into a lovely bouquet.
Realtors in Providence RI will confirm our answer. Moving to their beloved city is a no-brainer!
