Is Covington, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Covington is a seller's market

Buyer's
Market

Difference Since April 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, IN

How much do homes in Covington, IN cost?

Median Sold Price

$202,000

$110/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$32,000(+18.8%)

Key Takeaway

Homes in Covington have sold for 18.8% more than they did a year ago.

Summary: The median home sold price in Covington was $202,000 in April 2024, up 18.8% from last year, and the median price per square foot was $110.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $75.5K$77.5K
+2.6%
2 $152.5K$140K
-8.2%
3 $170K$205.3K
+20.8%
4 $250K$252K
+0.8%
5+ -$595K
N/A

Summary: Covington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.6%, 2 bedroom homes decreased by 8.2%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Covington
+18.8%
Troy Township
-15.2%

Housing Supply in Covington, IN

How many homes are available in Covington, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2019-5.0%

Summary: The Covington real estate market had 19 homes for sale in April 2024, a 5.0% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 32
-33.3%
2 33
0.0%
3 1011
+10.0%
4 21
-50.0%
5+ 22
0.0%

Summary: The Covington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
26+200.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Covington, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Covington in April 2024, up by 200.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.

Days on Market for Covington, IN

How long does it take to sell a home in Covington, IN?

Average Sale Time

Apr 2023Apr 2024CHANGE
64 Days70 Days+10.1%

Summary: Homes in Covington had an average of 70 days on market in Apr 2024, up by 10.1% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 6 homes were sold in Covington; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% 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 9 Days Ago

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