Is West Covina, CA 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, West Covina has remained a Seller's Market.
Housing Prices in West Covina, CA
How much do homes in West Covina, CA cost?
Median Sold Price
$800,000
$487/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in West Covina was $800,000 in May 2024, up 5.7% from last year, and the median price per square foot was $487.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $429K | $432K | +0.7% |
2 Bedrooms | $532.8K | $562.5K | +5.6% |
3 Bedrooms | $740K | $770K | +4.1% |
4 Bedrooms | $840K | $876K | +4.3% |
5+ Bedrooms | $1.0M | $975K | -2.5% |
Summary: West Covina housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 2.5%.
Median Sold Price Compared To Nearby Cities
La Puente | $663K | $707.5K | +6.7% |
West Covina | $756.6K | $800K | +5.7% |
East San Gabriel Valley | $743.2K | $779.7K | +4.9% |
Walnut | $1.1M | $1.1M | 0.0% |
Housing Supply in West Covina, CA
How many homes are available in West Covina, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
123 | 110 | -10.6% |
Summary: The West Covina real estate market had 110 homes for sale in May 2024, a 10.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 11 | 13 | +18.2% |
3 Bedrooms | 59 | 47 | -20.3% |
4 Bedrooms | 35 | 33 | -5.7% |
5+ Bedrooms | 16 | 16 | 0.0% |
Summary: The West Covina housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 18.2%, 3 bedroom homes decreased by 20.3%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
41 | 37 | -9.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in West Covina in May 2024, down by 9.8% month-over-month. Of the 37 sold homes, 16% were sold under asking, 8% were sold at asking, and 76% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 23 Days | +59.1% |
Summary: Homes in West Covina had an average of 23 days on market in May 2024, up by 59.1% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 37 homes were sold in West Covina; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.