Is Covington, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Covington has remained a Buyer's Market.
Housing Prices in Covington, TN
How much do homes in Covington, TN cost?
Median Sold Price
$185,000
$63/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Covington was $185,000 in April 2024, up 25.9% from last year, and the median price per square foot was $63.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $35K | N/A |
2 Bedrooms | $57.5K | $108K | +87.8% |
3 Bedrooms | $187K | $179.5K | -4.0% |
4 Bedrooms | $185K | $251.5K | +35.9% |
5+ Bedrooms | $257K | $400K | +55.6% |
Summary: Covington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 87.8%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 35.9%, and 5+ bedroom homes increased by 55.6%.
Housing Supply in Covington, TN
How many homes are available in Covington, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
52 | 60 | +15.4% |
Summary: The Covington real estate market had 60 homes for sale in April 2024, a 15.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 7 | 7 | 0.0% |
3 Bedrooms | 21 | 28 | +33.3% |
4 Bedrooms | 17 | 17 | 0.0% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Covington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 8 | +60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Covington in April 2024, up by 60.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 50% were sold at asking, and 13% were sold over asking.
Days on Market for Covington, TN
We’re sorry, we don't have information for this market at the moment