Is Covington, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Covington has remained a Seller's Market.
Housing Prices in Covington, VA
How much do homes in Covington, VA cost?
Median Sold Price
$141,500
$83/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Covington was $141,500 in April 2024, down 16.6% from last year, and the median price per square foot was $83.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $59K | $125K | +111.9% |
3 Bedrooms | $201.5K | $126K | -37.5% |
4 Bedrooms | $159.9K | $184.6K | +15.5% |
5+ Bedrooms | $310K | $750K | +141.9% |
Summary: Covington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 111.9%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes increased by 15.5%, and 5+ bedroom homes increased by 141.9%.
Median Sold Price Compared To Nearby Cities
Covington | $104K | $141.5K | +36.1% |
Jackson River | $154.5K | $142.5K | -7.8% |
Covington | $169.7K | $141.5K | -16.6% |
Housing Supply in Covington, VA
How many homes are available in Covington, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
23 | 29 | +26.1% |
Summary: The Covington real estate market had 29 homes for sale in April 2024, a 26.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 5 | +25.0% |
3 Bedrooms | 12 | 12 | 0.0% |
4 Bedrooms | 5 | 9 | +80.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Covington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 80%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 7 | +250.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Covington in April 2024, up by 250.0% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.
Days on Market for Covington, VA
We’re sorry, we don't have information for this market at the moment