$3,794 Closing Credit*
$319,500
1,635 SqFt
3 Beds
•2 Full Baths
Christine Curtis, Listing Office: NOLA Living Realty
Is Covington, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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, LA
How much do homes in Covington, LA cost?
Median Sold Price
$319,810
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,973(+6.7%)
Key Takeaway
Homes in Covington have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Covington was $319,810 in October 2024, up 6.7% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130.6K | $115K | -11.9% |
| 2 Bedrooms | $188K | $187.9K | -0.1% |
| 3 Bedrooms | $265.1K | $272K | +2.6% |
| 4 Bedrooms | $411.3K | $425K | +3.3% |
| 5+ Bedrooms | $567K | $710K | +25.2% |
Summary: Covington housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.9%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 25.2%.
Housing Supply in Covington, LA
How many homes are available in Covington, LA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 371 | 401 | +8.1% |
Summary: The Covington real estate market had 401 homes for sale in October 2024, a 8.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 14 | -12.5% |
| 2 Bedrooms | 15 | 18 | +20.0% |
| 3 Bedrooms | 171 | 182 | +6.4% |
| 4 Bedrooms | 133 | 146 | +9.8% |
| 5+ Bedrooms | 36 | 41 | +13.9% |
Summary: The Covington housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 13.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 60 | 62 | +3.3% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Covington, you may be able to get a good deal. 64.5% of homes here sold below asking price last month.
Summary: A total of 62 homes were sold or pending in Covington in October 2024, up by 3.3% month-over-month. Of the 62 sold homes, 65% were sold under asking, 19% were sold at asking, and 16% were sold over asking.
Days on Market for Covington, LA
How long does it take to sell a home in Covington, LA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 67 Days | +56.5% |
Summary: Homes in Covington had an average of 67 days on market in Oct 2024, up by 56.5% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Covington has remained consistent over time.
Summary: During October 2024, 62 homes were sold in Covington; 31% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
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