Covington Housing Market Report April 2025•Alleghany County, Virginia

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Housing Prices in Covington, VA

How much do homes in Covington, VA cost?

Housing Market Conditions

Is Covington, VA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Covington is a Buyer's Market

Difference Since April 2024

At the same time last year, Covington was a Seller's Market.

Insight

Covington is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$149,997$104/SqFt
+$8,497
+6.0%

Based on all homes sold in the last 12 months

Insight

Homes in Covington have sold for 6% more than they did a year ago.

Summary: The median home sold price in Covington was $149,997 in April 2025, up 6% from last year, and the median price per square foot was $104.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Covington
+6.0%
Covington
+5.3%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsApr 2024Apr 2025Change YoY
1-$550K
N/A
2$125K$88.5K
-29.2%
3$126K$159K
+26.2%
4$184.6K$162K
-12.3%
5$750K$302K
-59.7%

Summary: Covington housing price by bedroom type for April 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -29.2%. The home price for 3 bedroom homes increased by +26.2%. The home price for 4 bedroom homes decreased by -12.3%. The home price for 5 bedroom homes decreased by -59.7%.

How does Covington, VA compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Covington, VA

Housing supply in Covington, VA

How many homes are available in Covington, VA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
39Last MonthApr 2025
232 months agoMar 2025
+69.6 %
Change MoMMar – Apr

Summary: The Covington real estate market had 39 homes for sale in Apr 2025, a 69.6 % increase compared to Mar 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
5Last MonthApr 2025
32 months agoMar 2025
+66.7 %
Change MoMMar – Apr

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsMar 2025Apr 2025Change MoM
101
+100.0%
2812
+50.0%
31015
+50.0%
449
+125.0%
512
+100.0%

Summary: Covington housing inventory by bedroom type for April 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes increased by +50.0%. The inventory for 3 bedroom homes increased by +50.0%. The inventory for 4 bedroom homes increased by +125.0%. The inventory for 5 bedroom homes increased by +100.0%.

Asking Price vs. Sold Price

How much do homes in Covington, VA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price0 Home

Under Asking Price4 Homes

Insight

If you're buying a home in Covington, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Covington in April 2025, up by 66.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and and 20% were sold over asking.

Days on Market for Covington, VA

We’re sorry, we don't have information for this market at the moment.

Home sale times aren’t available for this area.

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Newest Listings in Covington, VA

What homes are available in Covington, VA?

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Nearby markets

Nearby markets aren't available for Covington, VA

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MLS Disclaimers and Copyright

Based on information from Roanoke Valley Association of Realtors MLS, for the period 05/01/2023 - 05/01/2025

IDXAlthough 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.

All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this web site may only use this listing data for their personal, non-commercial benefit. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The unauthorized retrieval or use of this listing data is prohibited.

All information is deemed reliable but not guaranteed, and should be independently verified. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/2/2025, 6:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.