Market analytics
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
August 2026 · Market Analysis
Latest published analysis. September 2026 commentary publishes on Oct 5.
Providence closings jump to 25 days as the over-$700K segment goes quiet
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Homes in Providence sold in a median 25 days in August 2026, down sharply from July's 5-day median but well ahead of last August's 79 days — sellers are still closing faster than a year ago even though the pace slowed from July's unusually quick clip. The bigger shift is in the mix: not a single home over $700,000 closed this month, compared to 4 such sales in August 2025, which is the main reason the median sale price fell to $437,625 from $571,995 a year earlier. With active inventory at 52 homes against just 10 closings, this reads as a buyer's market for now — sellers are competing hard for a thin pool of ready buyers.
Market pulse
Closed sales have bounced between 9 and 16 a month since April, landing at 10 in August — right in line with the 12-month average of 10, so this month's volume is normal, not soft. Active inventory, though, has climbed every month since May's 33: to 39 in June, 44 in July, and 52 in August, while new listings have held closer to flat at 18. That combination pushed the pace of sales relative to supply to 5.2 months, the loosest reading since at least February, signaling inventory is building faster than buyers are absorbing it. The under-$400,000 band carried half of August's closings at a $300,000 median, while the $400,000-$700,000 group took a median 73 days to sell — homes like the one in Village at Fox Meadows sat 75 days before closing.
Mortgage context
The 30-year rate sits at 6.875% today, up 0.125 percentage points over the past 30 days from 6.75%, and has climbed steadily from 6.16% in February to a 6.77% monthly average in August. That climb has quietly narrowed what buyers can afford even as home prices in Providence have eased, offsetting some of the relief a lower median sale price would otherwise deliver.
Payment math
A median-priced Providence home at $438,000 with 20% down runs $2,300 a month in principal and interest at today's 6.875% rate, $29 more than the $2,271 payment 30 days ago at 6.75%, and $165 above the $2,135 payment buyers would have locked in back in February when rates averaged 6.16%.
If you're buying
Look hard at the under-$400,000 band, where 5 of August's 10 closings landed and days on market ran just 20 — quick pace and low prices are compatible right now. In the $400,000-$700,000 range, patience pays: that group's 73-day median suggests room to negotiate, particularly on homes like the one in Village at Fox Meadows that sat 75 days before selling.
If you're selling
With 52 homes active against only 10 August closings, pricing to last spring's numbers won't work — sellers above $700,000 saw zero closings this month, a sign that segment needs a real price reset to move. If you're listing in the $400,000-$700,000 range, price close to what similar homes are actually closing at rather than the $581,450 median list, since the 98.18% sale-to-list ratio shows buyers aren't stretching for asking price.
Outlook
Expect inventory to keep building into fall unless new listings slow from their current 18-a-month pace, especially with rates near 6.875% cooling upper-bracket demand. The under-$400,000 segment should keep moving quickly, but sellers above $700,000 may need to wait for rates to ease or cut price to attract buyers before the Cache Valley market's traditional autumn slowdown sets in.
Watch for
If new listings stay near August's 18 a month while closings hold around 10, the months-of-supply figure likely climbs past 6 by November, tipping negotiating power further toward buyers.
"Providence's August pivot: faster sales, fewer luxury closings, thinner prices."
Common questions about Providence this month
Is Providence a buyer's or seller's market in August 2026? ▾
It's leaning toward buyers. Active inventory reached 52 homes against just 10 closings, pushing the months-of-supply figure to 5.2 — the loosest reading since February. Sellers are still getting 98.18% of asking price, but with no homes over $700,000 selling this month, the upper end especially needs to compete on price.
Why did the median sale price drop so much in Providence this August? ▾
The drop from $571,995 last August to $437,625 this year is mostly about mix, not a broad price decline — zero homes over $700,000 closed in August 2026 versus 4 a year earlier. Half of this month's 10 closings were under $400,000, which pulled the median down without necessarily meaning individual homes are worth less.
How much has the 30-year mortgage rate affected buying power in Providence? ▾
Rates climbed from 6.16% in February to 6.875% today, adding $165 a month to the payment on a median-priced $438,000 home — from $2,135 to $2,300. Even with home prices easing this month, that rate climb has eaten into the affordability gain.
Are homes selling faster or slower in Providence than a year ago? ▾
Faster. The median days on market fell to 25 in August 2026 from 79 in August 2025, even though it ticked up from July's unusually quick 5-day median. Homes under $400,000 are moving especially fast, with a 20-day median this month.
Which Providence neighborhoods are seeing sales right now? ▾
August closings were spread thin across the city, including one each in Vineyard, Village at Fox Meadows, Providence Gateway Subdivision, Mountain View Retirement Community, and Parkview Heights. No single subdivision carried more than one sale, unlike earlier months when Fox Hollow or Vineyard saw multiple closings.
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 ÷ list price — buyer/seller leverage
Days on Market
Median days from listing to under contract
Price Volume
Total dollar volume — active · new · sold per month
September 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
3 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 30 · 25th percentile 30 · 75th percentile 30
Needed a price change
Sold listings that had a recorded price change before close
1 of 3 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 neighborhoods this month
Named subdivisions ranked by homes sold · median price · median days to contract
- 1. Country Garden Estates 1 sold
- 2. Western Village 1 sold · 30d
September 2026 by property type
How each housing type performed last month — 3 closings total across subtypes.
Summary Statistics
| Metric | Sep-26 | Sep-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 3 | 11 | -72.73% | 80 | 68 | +17.65% |
| Median Sale Price | — | $400,000 | — | $510,329 | $510,393 | -0.01% |
| Median DOM | 30 | 33 | -9.09% | 39 | 47 | -17.02% |
| Sale-to-List Ratio | — | 98.12% | — | 98.50% | 98.64% | -0.14% |
Past months
Browse historical Providence reports — each month's snapshot stays at its own permanent URL.
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.