Providence, Rhode Island is not only the capitol of Rhode Island it is also one of the most popular cities to reside in in the New England area. It's rapidly changing and evolving demographics make it the perfect city to move to and raise a family. If you just sold your downtown Toronto real estate and are looking to move across the border, this article will give you all the market trends you need to know about Providence, Rhode Island.
Although it may be tempting to look at Toronto or Mississauga Ontario condos for sale, the market in Providence is a buyers market, making it the perfect time to purchase a home. The median sales price for a Providence home is just over one hundred thousand dollars. To make matters better, this is down by nearly fifty thousand dollars since 2008! Unlike a Manhattan or Burlington Ontario home for sale, in the past five years both the average and median listing price have dropped considerably in Providence. For example, the average price per square foot for a home in Providence was approximate eight dollars, which is a drop of almost fifteen percent compared to the same time the previous year.
Currently, there are approximately seven hundred homes for resale and new homes in Providence. Of these seven hundred homes, nearly four hundred homes are in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for a home for sale in Providence was nearly four hundred thousand dollars at the end of November in 2009. This represents a decrease of nearly two percent as compared to the month of October. As you can see, it's time to stop browsing through the homes for sale in Lorne Park and Vancouver and seriously consider your options in Providence.
Finally, if you are looking for a great neighborhood to move your family to, then you are in luck. Providence, Rhode Island has many great neighborhoods that are close to schools, transit, and shops. Some of the more popular neighborhoods in Providence include College hill, Blackstone, Mount Pleasant, Wayland, and West End Providence. The average listing prices for these popular neighborhoods range from one to seven hundred thousand dollars.
If you are looking to relocate and buy a new home, the above information should more than help you make your decision between overpriced Lytton Park condos and great Providence, Rhode Island real estate. Not only is it currently a buyers market, with listings that can more than fit into anyone's budget, it's also a wonderful city to live in that has great neighborhoods and is close to a lot of nearby cities.
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