$2,077 Closing Credit*
$174,900
1,841 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: WAINWRIGHT & CO., REALTORS(r)
Is Covington, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 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
$149,995
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
-$5,955(-3.8%)
Key Takeaway
Homes in Covington have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in Covington was $149,995 in December 2024, down 3.8% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $550K | N/A |
| 2 Bedrooms | $100.5K | $100K | -0.5% |
| 3 Bedrooms | $151.4K | $156K | +3.0% |
| 4 Bedrooms | $160K | $167.5K | +4.7% |
| 5+ Bedrooms | $395K | $302K | -23.5% |
Summary: Covington housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 23.5%.
Median Sold Price Compared To Nearby Cities
| Covington | $155.9K | $149.9K | -3.8% |
| Covington | $155.9K | $148.9K | -4.5% |
Housing Supply in Covington, VA
How many homes are available in Covington, VA?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 30 | 30 | 0.0% |
Summary: The Covington real estate market had 30 homes for sale in December 2024, the same as November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 15 | 13 | -13.3% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Covington housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 13.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 8 | 11 | +37.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 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 11 homes were sold or pending in Covington in December 2024, up by 37.5% month-over-month. Of the 10 sold homes, 50% were sold under asking, 30% were sold at asking, and 20% were sold over asking.
Days on Market for Covington, VA
How long does it take to sell a home in Covington, VA?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Covington has remained consistent over time.
Summary: During December 2024, 11 homes were sold in Covington; 0% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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.