P
rovidence stood out among US metro areas in November, according to one key real estate metric. Only 38.2% of listings in Providence remained on the market for 60 days or more, a stark contrast to the national trend where over half (54.5%) of home listings lingered on the market for at least 60 days. This was the highest November total since 2019.

    Providence had the lowest percentage of "stale" real estate listings among the nation's most populous metropolitan areas in November, according to a report from Redfin. Milwaukee and Montgomery County, Pa., followed closely behind with rates of 38.8% and 41.4%, respectively.

    Miami saw the highest percentage of "stale" listings, with 63.8% remaining on the market after 60 days. Boston was the only other New England city in the top 50 most populated metropolitan areas, with a rate of 44.2%.

    Local Redfin agent Alysandra Nemeth attributes Providence's strong real estate market to demand for rental properties and a lack of inventory. "If you have a multifamily [listing] that comes up and you've got an investor or someone that's looking to owner-occupy a property and rent some out... it's the perfect scenario," she said.

    Nemeth also notes that Providence's location, with easy access to Boston and New York City at a lower price point, is a major draw for buyers. The city's own attractions, including its culinary scene, are also a selling point. "This city is probably like the next city to watch out for," Nemeth said.