Is Covington, GA 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, Covington has remained a Seller's Market.
Key Takeaway
Covington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Covington, GA
How much do homes in Covington, GA cost?
Median Sold Price
$304,797
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Covington have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Covington was $304,797 in March 2024, up 1.6% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $285K | N/A |
| 2 Bedrooms | $206.5K | $226K | +9.4% |
| 3 Bedrooms | $269.9K | $277.1K | +2.7% |
| 4 Bedrooms | $349.9K | $328.1K | -6.2% |
| 5+ Bedrooms | $420.9K | $408.5K | -2.9% |
Summary: Covington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 6.2%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
| Oxford | $320K | $399K | +24.7% |
| Covington | $300K | $304.7K | +1.6% |
| Covington-Porterdale | $300K | $300K | 0% |
Housing Supply in Covington, GA
How many homes are available in Covington, GA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 510 | 611 | +19.8% |
Summary: The Covington real estate market had 611 homes for sale in March 2024, a 19.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 20 | 19 | -5.0% |
| 3 Bedrooms | 220 | 270 | +22.7% |
| 4 Bedrooms | 182 | 223 | +22.5% |
| 5+ Bedrooms | 84 | 94 | +11.9% |
Summary: The Covington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 22.7%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes increased by 11.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 86 | 111 | +29.1% |
Asking Price vs. Sold Price
51 Homes Were Sold
Under Asking
32 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Covington, you may be able to get a good deal. 51% of homes here sold below asking price last month.
Summary: A total of 111 homes were sold or pending in Covington in March 2024, up by 29.1% month-over-month. Of the 100 sold homes, 51% were sold under asking, 32% were sold at asking, and 17% were sold over asking.
Days on Market for Covington, GA
How long does it take to sell a home in Covington, GA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 51 Days | 44 Days | -13.3% |
Summary: Homes in Covington had an average of 44 days on market in Mar 2024, down by 13.3% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Covington are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 111 homes were sold in Covington; 58% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of Classic MLS. Information deemed reliable but not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed.