Is West 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, West Covina has remained a Seller's Market.
Housing Prices in West Covina, CA
How much do homes in West Covina, CA cost?
Median Sold Price
$795,000
$481/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in West Covina was $795,000 in March 2024, up 3% from last year, and the median price per square foot was $481.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $430K | $432K | 0.5% |
2 Bedrooms | $532.8K | $560K | +5.1% |
3 Bedrooms | $749.5K | $760K | +1.4% |
4 Bedrooms | $840K | $870K | +3.6% |
5+ Bedrooms | $955K | $1.0M | +12.6% |
Summary: West Covina housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.5%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 12.6%.
Median Sold Price Compared To Nearby Cities
La Puente | $672K | $700K | +4.2% |
West Covina | $771.5K | $795K | +3.0% |
East San Gabriel Valley | $750K | $770.7K | +2.8% |
Walnut | $1.1M | $1.0M | -3.3% |
Housing Supply in West Covina, CA
How many homes are available in West Covina, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
120 | 107 | -10.8% |
Summary: The West Covina real estate market had 107 homes for sale in March 2024, a 10.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 16 | 10 | -37.5% |
3 Bedrooms | 54 | 52 | -3.7% |
4 Bedrooms | 37 | 29 | -21.6% |
5+ Bedrooms | 13 | 16 | +23.1% |
Summary: The West Covina housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 37.5%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes decreased by 21.6%, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
41 | 34 | -17.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in West Covina in March 2024, down by 17.1% month-over-month. Of the 34 sold homes, 32% were sold under asking, 12% were sold at asking, and 56% were sold over asking.
Days on Market for West Covina, CA
How long does it take to sell a home in West Covina, CA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 17 Days | -49.4% |
Summary: Homes in West Covina had an average of 17 days on market in Mar 2024, down by 49.4% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 34 homes were sold in West Covina; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.