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 October 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

$215,000

$123/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$6,250(+3.0%)

Key Takeaway

Homes in Covington have sold for 3% more than they did a year ago.

Summary: The median home sold price in Covington was $215,000 in October 2024, up 3% from last year, and the median price per square foot was $123.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $115K$40K
-65.2%
2 $150K$103.7K
-30.8%
3 $208.7K$220K
+5.4%
4 $254K$267K
+5.1%
5+ $610K$343.5K
-43.7%

Summary: Covington housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 65.2%, 2 bedroom homes decreased by 30.8%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 43.7%.

Median Sold Price Compared To Nearby Cities

Covington
+3.0%
Troy Township
-7.3%

Housing Supply in Covington, IN

How many homes are available in Covington, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3031+3.3%

Summary: The Covington real estate market had 31 homes for sale in October 2024, a 3.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 45
+25.0%
3 1412
-14.3%
4 99
0.0%
5+ 24
+100.0%

Summary: The Covington housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
98-11.1%

Asking Price vs. Sold Price

5 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. 62.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Covington in October 2024, down by 11.1% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% 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

Oct 2023Oct 2024CHANGE
37 Days59 Days+59.7%

Summary: Homes in Covington had an average of 59 days on market in Oct 2024, up by 59.7% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Covington has remained consistent over time.

Summary: During October 2024, 8 homes were sold in Covington; 13% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% 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 20 Days Ago

Newest Listings in Covington, IN

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