Is Covina, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$750,000
$508/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Covina was $750,000 in March 2024, down 0.5% from last year, and the median price per square foot was $508.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $415.9K | $442.5K | +6.4% |
2 Bedrooms | $576K | $505K | -12.3% |
3 Bedrooms | $750K | $742.5K | -1.0% |
4 Bedrooms | $790K | $800K | +1.3% |
5+ Bedrooms | $862.5K | $1.5M | +74.9% |
Summary: Covina housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.4%, 2 bedroom homes decreased by 12.3%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 74.9%.
Median Sold Price Compared To Nearby Cities
San Dimas | $850K | $880K | +3.5% |
Azusa | $649K | $670K | +3.2% |
West Covina | $771.5K | $795K | +3.0% |
East San Gabriel Valley | $750K | $770.7K | +2.8% |
Covina | $753.7K | $750K | -0.5% |
Housing Supply in Covina, CA
How many homes are available in Covina, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
111 | 110 | -0.9% |
Summary: The Covina real estate market had 110 homes for sale in March 2024, a 0.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 11 | 7 | -36.4% |
3 Bedrooms | 61 | 66 | +8.2% |
4 Bedrooms | 25 | 21 | -16.0% |
5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The Covina housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 36.4%, 3 bedroom homes increased by 8.2%, 4 bedroom homes decreased by 16%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 31 | +10.7% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Covina in March 2024, up by 10.7% month-over-month. Of the 31 sold homes, 45% were sold under asking, 13% were sold at asking, and 42% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 27 Days | -7.7% |
Summary: Homes in Covina had an average of 27 days on market in Mar 2024, down by 7.7% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 31 homes were sold in Covina; 74% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.