Market Conditions for Providence, Rhode Island Reported by Steve Gillikin, REALTOR, GRI, CRS, CRP, ABR and E-Pro Updated May 8, 2012.

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

Providence Metro area Single Family Monthly Real Estate Sales Report for the month of April 2012:

Number of homes on the market: 239, down from 244 last month. Average list asking price: $127,406, down from $128,656 last month. Average days on market of homes for sale: 104, down from 105 last month.

Number of homes under contract: 197, up from 179 last month. Average list price of homes under contract: $89,900, down from $90,326 last month. Average days on market of homes under contract: 102, same as last month

Number of homes closed sale: 38, down from 47 last month. Average selling price: $90,118, down from $102,037 last month. Average days on market of sold homes: 81, up from 73 last month.

ZIP Codes: 02901, 02902, 02903, 02904, 02905, 02906, 02907, 02908, 02909, 02910, 02911, 02912, 02918, 02919, 02940

Approximate Location Boundaries: north: North Providence; east: East Providence; west: Johnston; south: Cranston

Location Characteristics: Roger Williams founded Providence in 1636 after his banishment from Massachusetts for "new and dangerous ideas." Providence was incorporated as a city in 1832 and became Rhode Island's sole state capital in 1900. In Providence, one witnesses the artful blend of the past and present — rich in architectural, educational and social significance. Atop the magnificent white marble state house, the bronze "Independent Man" champions the cause for which Providence was founded — religious liberty and individual freedom. The fine, restored 18th century homes along Benefit Street are only a short stroll from Brown University, the seventh oldest American college. The first Baptist Church in America, a national historic landmark built in 1775, and the Arcade, the nation's first enclosed shopping mall are only part of this living story. While a more recent architectural gem is includes the Rhode Island School of Design, founded in 1877 and recognized as one of the nation's foremost art schools.

Providence is located in southeastern New England, at the head of Narragansett Bay on the Atlantic seacoast. Providence is the business, financial, government and cultural hub of a metropolitan area for more than 1,000,000 people. Providence's economic assets include accessibility to excellent transportation facilities, including the Port of Providence, with its 40-foot channel, a high concentration of skilled workers, and six colleges and universities. Providence's major manufacturing industries: metals, machinery, textiles, jewelry and silverware were established by 1830 and helped attract the international immigrants that have shaped Providence's neighborhoods. At the turn of the 20th century, Providence boasted the world's largest tool factory (Brown and Sharpe), file factory (Nicholson File), engine factory (Corliss Steam Engine Company), screw factory (American Screw) and silverware factory (Gorham). Today Providence is one of the largest centers of jewelry design and manufacture in the United States. Major employers in Providence include more than six hospitals, Citizens Bank, the Diocese of Providence, state government, and a diverse range of manufacturing and service companies.

New ideas and economic initiatives flow outward from Providence's many colleges. The culinary school at Johnson and Wales University has helped Providence claim some of the best restaurants in New England. Current interfaces between universities and business include the Center for Cellular Medicine at Brown University and the Center for Design and Business at Bryant College and the Rhode Island School of Design. Providence took on the name the "Renaissance City" in the 1990s as new office buildings, apartments, hotels, world-class restaurants, the Rhode Island Convention Center, Waterplace Park, and the Bank of America skating rink liven the Downcity District. The Providence Place Mall, with more than 150 department stores, specialty stores and restaurants opened in 1999. Downcity Providence also includes an Arts and Entertainment District where artists are encouraged to combine their homes, studios, and galleries. Providence's fabric of historic architecture has been enhanced through the renovation of buildings including the Providence Foundry and the Shepherd's Building. Providence is successfully integrating its history into its future to create a dynamic, livable city.


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I am a licensed Broker in RI & MA. I've been a professional Realtor for going on 30 years. I've sold well over 1,200 properties during my career.

I am a Graduate of the Realtor Institute. There are only 485 out of close to 4,800 licensed agents and brokers in RI who earned the GRI designation. I am a Certified Residential Specialist. There are 123 agents who have earned their CRS designation. I am a Certified Relocation Professional. There are only a few who have taken the courses to obtain this CRP designation. I am an Accredited Buyers Representative. There are only 115 that have the ABR designation. I have also obtained a E-Pro designation. There are 72 E-Pros in RI. I am one of 5 to hold 4 of these and the only one to be certified in 5 areas. This shows achievements in using a higher level of technology to serve my buyer and seller clients. Finally, I specialize in distressed property sales, both short sales and REOs. I've sold over 150 of these hardship case properties over the past 3 years.

All of these designations are recognized by the National Association of Realtors.

I can help you in all aspects of real estate in RI and nearby Mass., whether selling, buying, building or investing.

Please call me or e mail me to answer any questions you may have. Thank you... Steve Gillikin