Is West Covina, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, West Covina has remained a Seller's Market.
Key Takeaway
West Covina is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Covina, CA
How much do homes in West Covina, CA cost?
Median Sold Price
$799,125
$485/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West Covina have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in West Covina was $799,125 in April 2024, up 4.8% from last year, and the median price per square foot was $485.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $429K | $432K | +0.7% |
| 2 Bedrooms | $533.9K | $562.5K | +5.4% |
| 3 Bedrooms | $747.6K | $761.6K | +1.9% |
| 4 Bedrooms | $840K | $865K | +3.0% |
| 5+ Bedrooms | $975K | $1.0M | +7.7% |
Summary: West Covina housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 7.7%.
Median Sold Price Compared To Nearby Cities
| West Covina | $762.7K | $799.1K | +4.8% |
| La Puente | $670.5K | $700.4K | +4.5% |
| East San Gabriel Valley | $748K | $774.8K | +3.6% |
| Walnut | $1.1M | $1.1M | -1.7% |
Housing Supply in West Covina, CA
How many homes are available in West Covina, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 112 | 117 | +4.5% |
Summary: The West Covina real estate market had 117 homes for sale in April 2024, a 4.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 56 | 54 | -3.6% |
| 4 Bedrooms | 30 | 36 | +20.0% |
| 5+ Bedrooms | 16 | 15 | -6.3% |
Summary: The West Covina housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 41 | +20.6% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Covina, you could pay more than the asking price. 68.3% of homes here sold above asking price last month.
Summary: A total of 41 homes were sold or pending in West Covina in April 2024, up by 20.6% month-over-month. Of the 41 sold homes, 27% were sold under asking, 5% were sold at asking, and 68% were sold over asking.
Days on Market for West Covina, CA
How long does it take to sell a home in West Covina, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 41 Days | 16 Days | -61.5% |
Summary: Homes in West Covina had an average of 16 days on market in Apr 2024, down by 61.5% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in West Covina are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 41 homes were sold in West Covina; 83% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.