Is Covington-Porterdale, 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-Porterdale has remained a Seller's Market.
Housing Prices in Covington-Porterdale, GA
How much do homes in Covington-Porterdale, GA cost?
Median Sold Price
$303,006
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Covington-Porterdale was $303,006 in May 2024, up 1.4% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $82.5K | $420K | +409.1% |
2 Bedrooms | $205K | $215K | +4.9% |
3 Bedrooms | $270K | $275K | +1.9% |
4 Bedrooms | $340K | $328.9K | -3.3% |
5+ Bedrooms | $425.5K | $414.4K | -2.6% |
Summary: Covington-Porterdale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 409.1%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 1.9%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 2.6%.
Median Sold Price Compared To Nearby Cities
Porterdale | $206K | $240.5K | +16.7% |
Oxford | $370K | $406.9K | +10.0% |
South Newton | $293.7K | $308K | +4.9% |
Covington | $300K | $306K | +2.0% |
Covington-Porterdale | $298.8K | $303K | +1.4% |
Housing Supply in Covington-Porterdale, GA
How many homes are available in Covington-Porterdale, GA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
518 | 594 | +14.7% |
Summary: The Covington-Porterdale real estate market had 594 homes for sale in May 2024, a 14.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 30 | 33 | +10.0% |
3 Bedrooms | 212 | 240 | +13.2% |
4 Bedrooms | 192 | 218 | +13.5% |
5+ Bedrooms | 81 | 100 | +23.5% |
Summary: The Covington-Porterdale 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 increased by 10%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 23.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
97 | 105 | +8.2% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 105 homes were sold or pending in Covington-Porterdale in May 2024, up by 8.2% month-over-month. Of the 95 sold homes, 35% were sold under asking, 42% were sold at asking, and 23% were sold over asking.
Days on Market for Covington-Porterdale, GA
How long does it take to sell a home in Covington-Porterdale, GA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 46 Days | +14.5% |
Summary: Homes in Covington-Porterdale had an average of 46 days on market in May 2024, up by 14.5% compared to last year.
Breakdown of Home Sale Times
54 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Summary: During May 2024, 105 homes were sold in Covington-Porterdale; 51% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.