Is Covington, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Covington was a Seller's Market.
Housing Prices in Covington, TN
How much do homes in Covington, TN cost?
Median Sold Price
$174,450
$84/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Covington was $174,450 in May 2024, down 8.2% from last year, and the median price per square foot was $84.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $35K | N/A |
2 Bedrooms | $100K | $124K | +24.0% |
3 Bedrooms | $220K | $165K | -25.0% |
4 Bedrooms | $212K | $224K | +5.7% |
5+ Bedrooms | $245K | $400K | +63.3% |
Summary: Covington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 24%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 63.3%.
Housing Supply in Covington, TN
How many homes are available in Covington, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
58 | 64 | +10.3% |
Summary: The Covington real estate market had 64 homes for sale in May 2024, a 10.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 7 | 6 | -14.3% |
3 Bedrooms | 28 | 30 | +7.1% |
4 Bedrooms | 16 | 19 | +18.8% |
5+ Bedrooms | 6 | 8 | +33.3% |
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 14.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 9 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Covington in May 2024, the same as the previous month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.
Days on Market for Covington, TN
We’re sorry, we don't have information for this market at the moment
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Covington; 11% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.