$8,313 Closing Credit*
$700,000
3,234 SqFt
5 Beds
•3 Full Baths
Jennifer Hayes, Listing Office: REACH Real Estate Solutions
Is Covington, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Covington was a Seller's Market.
Key Takeaway
Covington is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Covington, LA
How much do homes in Covington, LA cost?
Median Sold Price
$315,000
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,142(+3.3%)
Key Takeaway
Homes in Covington have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Covington was $315,000 in November 2024, up 3.3% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130.8K | $115K | -12.1% |
| 2 Bedrooms | $192K | $196.4K | +2.3% |
| 3 Bedrooms | $267.4K | $270K | +0.9% |
| 4 Bedrooms | $416.2K | $417.5K | 0.3% |
| 5+ Bedrooms | $590K | $699K | +18.5% |
Summary: Covington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.1%, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 18.5%.
Housing Supply in Covington, LA
How many homes are available in Covington, LA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 379 | 373 | -1.6% |
Summary: The Covington real estate market had 373 homes for sale in November 2024, a 1.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 12 | -7.7% |
| 2 Bedrooms | 18 | 19 | +5.6% |
| 3 Bedrooms | 168 | 170 | +1.2% |
| 4 Bedrooms | 141 | 129 | -8.5% |
| 5+ Bedrooms | 39 | 43 | +10.3% |
Summary: The Covington housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.7%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes increased by 10.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 63 | 51 | -19.0% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Covington, you may be able to get a good deal. 51% of homes here sold below asking price last month.
Summary: A total of 51 homes were sold or pending in Covington in November 2024, down by 19.0% month-over-month. Of the 51 sold homes, 51% were sold under asking, 41% were sold at asking, and 8% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 55 Days | +65.4% |
Summary: Homes in Covington had an average of 55 days on market in Nov 2024, up by 65.4% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
11 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 November 2024, 51 homes were sold in Covington; 45% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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