Is Covert, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Covert was a Seller's Market.
Key Takeaway
Covert is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Covert, MI
How much do homes in Covert, MI cost?
Median Sold Price
$545,000
$371/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Covert have sold for 6.3% more than they did a month ago.
Summary: The median home sold price in Covert was $545,000 in May 2024, up 6.3% from last month, and the median price per square foot was $371.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $512.5K | $545K | +6.3% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Covert housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 6.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Covert, MI
How many homes are available in Covert, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Summary: The Covert real estate market had 12 homes for sale in May 2024, a 33.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Covert housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Covert, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Covert in May 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Covert, MI
How long does it take to sell a home in Covert, MI?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 4 Days | -59.1% |
Summary: Homes in Covert had an average of 4 days on market in May 2024, down by 59.1% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Covert are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Covert; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
