Is Covington, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Covington was a Seller's Market.
Key Takeaway
Covington is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Covington, GA
How much do homes in Covington, GA cost?
Median Sold Price
$304,993
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Covington have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Covington was $304,993 in April 2024, up 1.7% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $285K | N/A |
| 2 Bedrooms | $192.5K | $233.8K | +21.5% |
| 3 Bedrooms | $272K | $275K | +1.1% |
| 4 Bedrooms | $346.3K | $328.3K | -5.2% |
| 5+ Bedrooms | $414.9K | $405K | -2.4% |
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 21.5%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 5.2%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Cities
| Oxford | $337.5K | $404.9K | +20.0% |
| Covington | $299.9K | $304.9K | +1.7% |
| Covington-Porterdale | $299K | $300K | 0.3% |
Housing Supply in Covington, GA
How many homes are available in Covington, GA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 582 | 630 | +8.2% |
Summary: The Covington real estate market had 630 homes for sale in April 2024, a 8.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 21 | 26 | +23.8% |
| 3 Bedrooms | 255 | 258 | +1.2% |
| 4 Bedrooms | 217 | 247 | +13.8% |
| 5+ Bedrooms | 84 | 93 | +10.7% |
Summary: The Covington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 23.8%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 10.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 116 | 106 | -8.6% |
Asking Price vs. Sold Price
58 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Covington, you may be able to get a good deal. 59.2% of homes here sold below asking price last month.
Summary: A total of 106 homes were sold or pending in Covington in April 2024, down by 8.6% month-over-month. Of the 98 sold homes, 59% were sold under asking, 27% were sold at asking, and 14% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 54 Days | 48 Days | -10.2% |
Summary: Homes in Covington had an average of 48 days on market in Apr 2024, down by 10.2% compared to last year.
Breakdown of Home Sale Times
58 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
21 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 April 2024, 106 homes were sold in Covington; 55% of homes were sold within 30 days, 25% 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.