Is Covington, OH 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, OH
How much do homes in Covington, OH cost?
Median Sold Price
$179,900
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Covington have sold for 13.9% more than they did a year ago.
Summary: The median home sold price in Covington was $179,900 in March 2024, up 13.9% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $179.9K | N/A |
| 2 Bedrooms | $125.5K | $138.2K | +10.2% |
| 3 Bedrooms | $178K | $175.9K | -1.2% |
| 4 Bedrooms | $150K | $225K | +50.0% |
| 5+ Bedrooms | $149K | $331.2K | +122.3% |
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 10.2%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 122.3%.
Median Sold Price Compared To Nearby Cities
| Covington | $158K | $179.9K | +13.9% |
| Newberry Township | $172.2K | $155K | -10.0% |
Housing Supply in Covington, OH
How many homes are available in Covington, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Summary: The Covington real estate market had 10 homes for sale in March 2024, a 25.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 1 | 5 | +400.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Covington 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 remained the same, 3 bedroom homes increased by 400%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
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 2 homes were sold or pending in Covington in March 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Covington, OH
How long does it take to sell a home in Covington, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 108 Days | 32 Days | -70.6% |
Summary: Homes in Covington had an average of 32 days on market in Mar 2024, down by 70.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 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, 2 homes were sold in Covington; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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