The one thing you can say about home sales in East Providence is that they tend to be remarkably resilient. Given the current status of the pandemic and its overall impact on the economy, that fact that unit sales fell from 51 to 45 (-11.76%) year over year is a positive. The median sale price only dropped by about 1% and the sale price per square foot actually went up by 1%. (see chart here)
It’s really not surprising as the local East Providence market has always been relatively steady as other communities often illustrate substantial swings in both unit sales and sales values. (With the exception of the great recession)
In other good news single family homes sold 20% above assessed value on average for the first half of the year, exceeding expectations and signaling the many strong aspects the city has to offer it’s current and future residents.
Finally, there is no reason to expect this trend to change unless the pandemic worsens. If you’re curious about how your property would fare in the current market, please contact me, I would be happy to help.