Is Covington, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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, GA
How much do homes in Covington, GA cost?
Median Sold Price
$306,077
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Covington have sold for 2% more than they did a year ago.
Summary: The median home sold price in Covington was $306,077 in May 2024, up 2% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $116.2K | $285K | +145.2% |
| 2 Bedrooms | $206.5K | $220K | +6.5% |
| 3 Bedrooms | $273.5K | $275K | 0.5% |
| 4 Bedrooms | $337K | $328.9K | -2.4% |
| 5+ Bedrooms | $400K | $399.6K | -0.1% |
Summary: Covington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 145.2%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 0.5%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 0.1%.
Median Sold Price Compared To Nearby Cities
| Oxford | $370K | $406.9K | +10.0% |
| Covington | $300K | $306K | +2.0% |
| Covington-Porterdale | $298.8K | $303K | +1.4% |
Housing Supply in Covington, GA
How many homes are available in Covington, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 599 | 667 | +11.4% |
Summary: The Covington real estate market had 667 homes for sale in May 2024, a 11.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 26 | 25 | -3.8% |
| 3 Bedrooms | 245 | 276 | +12.7% |
| 4 Bedrooms | 233 | 258 | +10.7% |
| 5+ Bedrooms | 90 | 103 | +14.4% |
Summary: The Covington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 14.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 116 | 114 | -1.7% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
47 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Covington, expect to pay close to the asking price. 45.6% of homes here sold near the asking price last month.
Summary: A total of 114 homes were sold or pending in Covington in May 2024, down by 1.7% month-over-month. Of the 103 sold homes, 33% were sold under asking, 46% were sold at asking, and 21% were sold over asking.
Days on Market for Covington, GA
How long does it take to sell a home in Covington, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 40 Days | +9.7% |
Summary: Homes in Covington had an average of 40 days on market in May 2024, up by 9.7% compared to last year.
Breakdown of Home Sale Times
63 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
17 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 May 2024, 114 homes were sold in Covington; 55% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of Classic MLS. Information deemed reliable but not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed.