$1,039 Closing Credit*
$87,500
840 SqFt
2 Beds
•1 Full Bath
Listing Office: HIGHLANDS REALTY & ASSOCIATES LLC
Is Covington, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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, VA
How much do homes in Covington, VA cost?
Median Sold Price
$152,497
$102/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$17,252(-10.2%)
Key Takeaway
Homes in Covington have sold for 10.2% less than they did a year ago.
Summary: The median home sold price in Covington was $152,497 in October 2024, down 10.2% from last year, and the median price per square foot was $102.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $100.5K | $95K | -5.5% |
| 3 Bedrooms | $175K | $152.4K | -12.9% |
| 4 Bedrooms | $169.5K | $167.5K | -1.2% |
| 5+ Bedrooms | $355K | $364.9K | +2.8% |
Summary: Covington housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.5%, 3 bedroom homes decreased by 12.9%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Cities
| Jackson River | $184.3K | $197K | +6.9% |
| Covington | $169.7K | $152.4K | -10.2% |
| Covington | $169.7K | $152.4K | -10.2% |
Housing Supply in Covington, VA
How many homes are available in Covington, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 34 | +17.2% |
Summary: The Covington real estate market had 34 homes for sale in October 2024, a 17.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 17 | 19 | +11.8% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
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 remained the same, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Covington, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Covington in October 2024, up by 14.3% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Covington, VA
We’re sorry, we don't have information for this market at the moment
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.