Market analytics · May 2026 archive
Providence, Utah real estate market report.
Monthly sold prices, days on market, sale-to-list ratio, and absorption rate. Updated nightly from UtahRealEstate.com and the Washington County Board of Realtors.
Updated · Sources: UtahRealEstate.com & Washington County Board of Realtors
May 2026 · Market Analysis
Providence luxury closes carry May as overall volume steps back from April's pace
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Providence recorded 12 closed sales in May 2026, down from April's 16 but double the 6 closings from May 2025 — a meaningful year-over-year gain that shows this Cache Valley city has genuinely more buyer activity than it did a year ago. The composition of those closings shifted notably upmarket: 5 of the 12 homes that sold were priced above $700,000, with a median sale in that segment of $980,000, compared to just 1 over-$700K closing in May 2025. Active inventory reached 58 homes, up from 50 in April and 46 in March, giving buyers the most selection they've had since at least last summer.
Market pulse
Closed sales in Providence have moved in a clear seasonal arc: 4 in February, 8 in March, 16 in April, then 12 in May — a modest pullback from April's peak but still well above the winter floor. Days on market tightened considerably from January's median of 154 days to just 32 days in May, with a quarter of homes selling in 17 days or fewer, suggesting that well-priced listings are still moving quickly. The sale-to-list ratio slipped to 98.03% in May from 98.87% in April and 99.12% in March, a small but consistent drift that indicates sellers are giving up slightly more ground at the negotiating table. Active inventory has grown steadily — from 25 homes in January to 37 in February, 46 in March, 50 in April, and now 58 in May — which is expanding buyer choice without yet tipping the market decisively toward buyers.
Mortgage context
The 30-year fixed rate has climbed to 6.75% — up 0.25 percentage points from 6.50% thirty days ago and 0.56 percentage points above February's monthly average of 6.19%, which was the low point of the past several months. That rate trajectory matters in a market like Providence where the median home price sits around $552,000: buyers who were penciling out payments in February are now looking at meaningfully higher monthly costs. FHA and VA options at 6.25% remain a relevant alternative for qualified buyers, particularly those targeting the under-$400,000 segment where Fox Hollow Sub continues to produce closings.
Payment math
On a median-priced home here — about $552,000 with 20% down — the monthly principal-and-interest payment lands at $2,867 at 6.75% — $73 more than 30 days ago at 6.50%, and $163 above the February low when rates averaged 6.19% and the payment would have been $2,704.
If you're buying
With 58 active listings and a sale-to-list ratio that has slipped to 98.03%, buyers in Providence have more room to negotiate than at any point this spring — target homes that have been sitting past 45 days, where sellers in the $400,000–$700,000 band (median days on market of 48 in May) are more likely to accept offers below list. If you're eyeing the Homes on the Knoll or Sage Crest neighborhoods, note that the over-$700K segment is moving faster than you might expect — median days on market of just 30 days in May — so don't assume luxury listings will wait. Buyers priced out of Providence's upper segments might also look at comparable Cache Valley inventory in Logan or North Logan, where price points tend to run lower.
If you're selling
Sellers in Providence should price to current conditions, not to April's momentum — the sale-to-list ratio has slipped three months in a row (99.12% in March, 98.87% in April, 98.03% in May), meaning homes priced at last spring's optimistic levels are the ones sitting. With 5 of the 12 May closings taking a price cut before selling, accurate initial pricing matters more than it did even 60 days ago. If your home is in the $400,000–$700,000 range — the most competitive segment — lean on condition and presentation to stand out, since buyers in that band are now averaging 48 days on market before closing and have 58 active listings to compare against.
Outlook
Over the next 60 to 90 days, Providence is likely to see continued inventory growth as new listings come to market through the summer — 21 new listings arrived in both March and May, and that pace typically holds or accelerates into June. If the 30-year rate stays near 6.75% or climbs further, expect the middle price band ($400,000–$700,000) to feel the most pressure, as those buyers are most sensitive to monthly payment increases and have fewer loan-program alternatives than FHA or VA-eligible buyers in the under-$400,000 range. The luxury segment above $700,000 — anchored by communities like Shoreline and Grand View Hills — has shown surprising resilience, but at jumbo rates of 7.25% that segment is not immune to rate fatigue if inventory keeps building.
Watch for
If the 30-year fixed rate crosses 7.00% before August, expect days on market in the $400,000–$700,000 band to stretch past 60 days and the sale-to-list ratio to slip below 97% as sellers face buyers with fewer financing options and tighter monthly budgets.
"May's story isn't the count — it's the mix: luxury pulled the median up while rising rates quietly squeezed the middle."
Common questions about Providence this month
Is Providence a buyer's or seller's market in May 2026? ▾
It's a transitional market leaning slightly toward buyers. With 58 active listings and homes taking a median of 32 days to sell, buyers have more options and more negotiating room than they did in March or April. The sale-to-list ratio of 98.03% means sellers are still getting close to asking price on average, but 5 of the 12 May closings involved a price reduction before the sale — a sign that overpriced homes are not moving without adjustment.
Why did Providence's median sale price jump in May compared to April? ▾
The mix of closings shifted upmarket. In April, 6 of 16 sales were under $400,000, pulling the median down to $490,000. In May, 5 of 12 sales were above $700,000 — including a $1,075,000 closing in Shoreline and a $980,000 sale in Grand View Hills — which pushed the median to $552,450. With only 12 total closings, a handful of high-end sales can move the median significantly.
How are rising mortgage rates affecting Providence buyers right now? ▾
The 30-year fixed rate is at 6.75% as of early June, up from a recent low of 6.19% in February. On a median-priced Providence home of about $552,000 with 20% down, that February-to-now rate climb adds $163 per month to the principal-and-interest payment — from $2,704 to $2,867. For buyers in the $400,000–$700,000 range, that's a real affordability squeeze; FHA financing at 6.25% is worth exploring for those who qualify.
What neighborhoods or subdivisions are most active in Providence right now? ▾
Fox Hollow Sub has been the most consistent source of closings in recent months, with 3 sales in both April and May in the under-$400,000 range — making it one of the more accessible entry points in the city. On the upper end, Shoreline and Grand View Hills each produced a closing above $975,000 in May. Homes on the Knoll and Sage Crest are also active in the $580,000–$735,000 range, though days on market in those communities can run longer.
How long are homes sitting on the market in Providence in May 2026? ▾
The median days on market in May was 32 days — a significant improvement from January's 154-day median and roughly in line with March and April. A quarter of homes sold in 17 days or fewer, meaning well-priced listings are still moving quickly. However, a quarter of homes took longer than 51 days, and the $400,000–$700,000 segment averaged 48 days — so there's a real split between homes that are priced right and those that aren't.
Number of Listings
Active inventory · new listings · sold per month
Listing Prices
Active median list · new median list · sold median sale
Absorption Rate
Months of supply — active inventory ÷ monthly sold rate
Sale-to-List Ratio
Close price ÷ original list — buyer/seller leverage
Days on Market
Median days from listing to close
Price Volume
Total dollar volume — active · new · sold per month
May 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
13 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 30 · 25th percentile 11 · 75th percentile 50
Needed a price change
Sold listings that had a recorded price change before close
5 of 13 sold homes had at least one price change while listed. Lower = sellers are pricing right the first time.
Sales by price band
Closed-price bucket → sold count and median days to contract
Top subdivisions this month
Ranked by closed count
- 1. Fox Hollow Sub 3 sold · $330K · 0d
- 2. Shoreline 1 sold · $1,075K · 73d
- 3. Grand View Hills Sub 1 sold · $980K · 28d
- 4. Sage Crest 1 sold · $735K · 33d
- 5. Homes On The Knoll 1 sold · $580K · 81d
May 2026 by property type
How each housing type performed last month — 12 closings total across subtypes.
Summary Statistics
| Metric | May-26 | May-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 13 | 6 | +116.67% | 48 | 27 | +77.78% |
| Median Sale Price | $524,900 | $482,495 | +8.79% | $517,129 | $536,275 | -3.57% |
| Median DOM | 30 | 63 | -52.38% | 50 | 53 | -5.66% |
| Sale-to-List Ratio | 97.87% | 99.27% | -1.41% | 98.61% | 99.03% | -0.42% |
Sources: UtahRealEstate.com and the Washington County Board of Realtors, aggregated by Best Utah Real Estate. Sale-to-list ratio compares closing price to the final list price (post-reduction). Absorption rate = active inventory ÷ monthly sold rate.