Is Covington-Porterdale, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Covington-Porterdale is a buyer's market

Buyer's
Market

Difference Since June 2023

At the same time last year, Covington-Porterdale was a Seller's Market.

Key Takeaway

Covington-Porterdale is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Covington-Porterdale, GA

How much do homes in Covington-Porterdale, GA cost?

Median Sold Price

$304,365

$158/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$7,261(+2.4%)

Key Takeaway

Homes in Covington-Porterdale have sold for 2.4% more than they did a year ago.

Summary: The median home sold price in Covington-Porterdale was $304,365 in June 2024, up 2.4% from last year, and the median price per square foot was $158.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $82.5K$420K
+409.1%
2 $205.9K$212.5K
+3.2%
3 $270K$274.9K
+1.8%
4 $339.7K$330K
-2.9%
5+ $427.5K$413K
-3.4%

Summary: Covington-Porterdale housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 409.1%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 3.4%.

Median Sold Price Compared To Nearby Cities

Porterdale
+18.8%
Oxford
+15.1%
South Newton
+7.8%
Covington
+2.6%
Covington-Porterdale
+2.4%

Housing Supply in Covington-Porterdale, GA

How many homes are available in Covington-Porterdale, GA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
535582+8.8%

Summary: The Covington-Porterdale real estate market had 582 homes for sale in June 2024, a 8.8% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 35
+66.7%
2 3229
-9.4%
3 213254
+19.2%
4 198203
+2.5%
5+ 8991
+2.2%

Summary: The Covington-Porterdale housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes decreased by 9.4%, 3 bedroom homes increased by 19.2%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 2.2%.

Number of Homes Sold

May 2024Jun 2024CHANGE
11766-43.6%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

25 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Covington-Porterdale, expect to pay close to the asking price. 41.7% of homes here sold near the asking price last month.

Summary: A total of 66 homes were sold or pending in Covington-Porterdale in June 2024, down by 43.6% month-over-month. Of the 60 sold homes, 40% were sold under asking, 42% were sold at asking, and 18% were sold over asking.

Days on Market for Covington-Porterdale, GA

How long does it take to sell a home in Covington-Porterdale, GA?

Average Sale Time

Jun 2023Jun 2024CHANGE
29 Days29 Days+1.1%

Summary: Homes in Covington-Porterdale had an average of 29 days on market in Jun 2024, up by 1.1% compared to last year.

Breakdown of Home Sale Times

45 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Covington-Porterdale are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 66 homes were sold in Covington-Porterdale; 68% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

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