$13,000,000
Studio
Troy Reese, Listing Office: Marcus & Millichap RE Invest
Is West Covina, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, West Covina has remained a Seller's Market.
Key Takeaway
West Covina is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Covina, CA
How much do homes in West Covina, CA cost?
Median Sold Price
$833,666
$516/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$67,333(+8.8%)
Key Takeaway
Homes in West Covina have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in West Covina was $833,666 in November 2024, up 8.8% from last year, and the median price per square foot was $516.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $432K | $400K | -7.4% |
| 2 Bedrooms | $546K | $581.4K | +6.5% |
| 3 Bedrooms | $750K | $810K | +8.0% |
| 4 Bedrooms | $840K | $910K | +8.3% |
| 5+ Bedrooms | $970K | $1.1M | +13.4% |
Summary: West Covina housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.4%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 13.4%.
Median Sold Price Compared To Nearby Cities
| West Covina | $766.3K | $833.6K | +8.8% |
| East San Gabriel Valley | $750K | $808K | +7.7% |
| La Puente | $685K | $725K | +5.8% |
| Walnut | $1.0M | $1.1M | +5.7% |
Housing Supply in West Covina, CA
How many homes are available in West Covina, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 141 | 133 | -5.7% |
Summary: The West Covina real estate market had 133 homes for sale in November 2024, a 5.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 18 | 13 | -27.8% |
| 3 Bedrooms | 71 | 72 | +1.4% |
| 4 Bedrooms | 37 | 36 | -2.7% |
| 5+ Bedrooms | 14 | 12 | -14.3% |
Summary: The West Covina housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 27.8%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 36 | 31 | -13.9% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Covina, you may be able to get a good deal. 48.4% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in West Covina in November 2024, down by 13.9% month-over-month. Of the 31 sold homes, 48% were sold under asking, 13% were sold at asking, and 39% were sold over asking.
Days on Market for West Covina, CA
How long does it take to sell a home in West Covina, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 27 Days | +19.1% |
Summary: Homes in West Covina had an average of 27 days on market in Nov 2024, up by 19.1% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Covina are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 31 homes were sold in West Covina; 65% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.