Is Covina, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Covina has remained a Seller's Market.
Housing Prices in Covina, CA
How much do homes in Covina, CA cost?
Median Sold Price
$749,600
$508/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Covina was $749,600 in May 2024, up 0.2% from last year, and the median price per square foot was $508.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $415.9K | $442.5K | +6.4% |
2 Bedrooms | $565K | $525K | -7.1% |
3 Bedrooms | $750K | $731.6K | -2.5% |
4 Bedrooms | $775K | $815K | +5.2% |
5+ Bedrooms | $870K | $1.5M | +79.6% |
Summary: Covina housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.4%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 79.6%.
Median Sold Price Compared To Nearby Cities
West Covina | $756.6K | $800K | +5.7% |
East San Gabriel Valley | $743.2K | $779.7K | +4.9% |
Azusa | $650K | $680K | +4.6% |
San Dimas | $850K | $875K | +2.9% |
Covina | $748.3K | $749.6K | 0.2% |
Housing Supply in Covina, CA
How many homes are available in Covina, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
116 | 116 | 0.0% |
Summary: The Covina real estate market had 116 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 0 | -100.0% |
2 Bedrooms | 13 | 15 | +15.4% |
3 Bedrooms | 66 | 59 | -10.6% |
4 Bedrooms | 21 | 30 | +42.9% |
5+ Bedrooms | 14 | 12 | -14.3% |
Summary: The Covina housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 10.6%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
39 | 41 | +5.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Summary: A total of 41 homes were sold or pending in Covina in May 2024, up by 5.1% month-over-month. Of the 41 sold homes, 27% were sold under asking, 15% were sold at asking, and 59% were sold over asking.
Days on Market for Covina, CA
How long does it take to sell a home in Covina, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 20 Days | -33.4% |
Summary: Homes in Covina had an average of 20 days on market in May 2024, down by 33.4% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 41 homes were sold in Covina; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.