Covina Real Estate Market & Area Information Stacy Pearson, September 7, 2023 Covina Median Home Prices Covina, CA is currently experiencing a seller’s market, with high demand and limited supply of homes. In July 2023, the median listing home price was $727.5K, down 5.4% from the previous year. Homes in Covina are selling for an average of 3.13% above asking price, with a median sold price of $753K. The city offers top-rated public schools and a range of amenities such as grocery stores, cafes, and parks. This article explores the housing market, schools, and amenities in Covina, CA. Real Estate Highlights in Covina, CA In July 2023, the median listing home price in Covina, CA was $727.5K, showing a decrease of -5.4% YoY. This data indicates a trend in the Covina, CA real estate market, suggesting a decline in home prices compared to the previous year. A home price analysis reveals that the median listing home price per square foot was $493, while the median home sold price reached $753K. Additionally, the sale-to-list price ratio in Covina, CA was 103.13% in July 2023, indicating that homes were selling for slightly above the listing price. These real estate highlights provide valuable insights into the current state of the Covina, CA housing market and can assist potential buyers and sellers in making informed decisions. Covina, CA Housing Market Analysis The median days on market in July 2023 has decreased in comparison to the previous month in Covina, CA. According to the data, homes in Covina, CA are selling at a faster pace. On average, homes in Covina, CA are now staying on the market for 26 days, which is a slight decrease from the previous month. This trend indicates a strong demand in the housing market. Additionally, the impact of school quality on home prices in Covina, CA should be noted. Covina, CA is known for hosting public schools that are rated good and higher by GreatSchools. This positive reputation for quality education can influence home prices and attract buyers who value education for their children. Overall, the housing market trends in Covina, CA suggest a seller’s market with a focus on school quality and abundant amenities. Top-rated Schools in Covina, CA Public schools in Covina, CA have received positive ratings from GreatSchools for their quality indicators, including test scores and college readiness. These top-rated schools in Covina, CA have demonstrated strong academic performance and are recognized for their commitment to providing a high-quality education. GreatSchools ratings are based on a variety of factors, including standardized test results and measures of college readiness. These ratings serve as a valuable resource for parents and community members seeking to understand the quality of education offered by public schools in Covina, CA. By considering these ratings, individuals can make informed decisions about which schools may best meet the needs of their children. The positive ratings reflect the dedication and hard work of educators and administrators in Covina, CA, and their commitment to ensuring student success. Abundant Amenities in Covina, CA Cafes, restaurants, grocery stores, and other conveniences are plentiful in Covina, providing residents with a wide range of options for their daily needs. In addition to these essential amenities, Covina, CA also offers a variety of recreational activities and a vibrant local dining scene. Residents can enjoy outdoor activities at the numerous parks and green spaces scattered throughout the city. From hiking trails and picnic areas to sports fields and playgrounds, there is something for everyone to enjoy. When it comes to dining, Covina boasts a diverse range of restaurants, cafes, and eateries. Whether you’re craving international cuisine, local favorites, or trendy cafes, there is no shortage of options to satisfy your taste buds. Covina, CA truly provides its residents with abundant amenities and a thriving local dining scene. Covina, CA Real Estate Overview There are various neighborhoods in Covina, CA with different real estate options available. Covina, CA is currently experiencing some interesting real estate trends. The median listing home price in July 2023 was $727.5K, which is a decrease of -5.4% compared to the previous year. The median listing home price per square foot was $493, and the median home sold price was $753K. The sale-to-list price ratio in Covina, CA was 103.13%, indicating that homes in the area are selling above their asking price on average. Covina, CA is considered a seller’s market, with more people looking to buy than there are homes available. On average, homes in Covina, CA sell after 26 days on the market. Overall, the real estate market in Covina, CA is dynamic and offers a range of options for potential buyers. Covina, CA: A Seller’s Market Snapshot Grocery stores, restaurants, and rental options are plentiful in Covina, CA, making it a desirable location in the current seller’s market. Covina, CA is experiencing market competitiveness and high housing demand. In July 2023, the median listing home price in Covina, CA was $727.5K, showing a decrease of -5.4% compared to the previous year. The median listing home price per square foot was $493, while the median home sold price stood at $753K. Homes in Covina, CA sold for an average of 3.13% above asking price, with a sale-to-list price ratio of 103.13% in July 2023. This indicates that buyers are willing to pay more to secure a home in Covina, CA. With a seller’s market and a range of amenities, Covina, CA is an attractive location for those looking to buy a home. Covina, CA: Education and School Quality In addition to being a seller’s market with abundant amenities, Covina, CA also boasts top-rated schools and a strong emphasis on education. The public schools in Covina, CA have received good ratings and higher from GreatSchools, a trusted source for evaluating school quality. These ratings are based on various indicators, including test scores and college readiness, while also taking into account equity data. It’s important to note that the ratings are intended for reference only. In Covina, CA, students have access to a good education and a variety of extracurricular activities that enhance their learning experience. These extracurricular activities can provide students with opportunities for personal growth, skill development, and social interaction, further enriching their educational journey. Covina, CA: Exploring Local Amenities Visitors to Covina, CA can enjoy a wide range of local amenities, including numerous cafes, restaurants, parks, gyms, and rental options starting at $1.2K per month. When it comes to exploring local parks and recreation, Covina, CA offers a variety of options. The city is home to several well-maintained parks, such as Covina Park and Kelby Park, where visitors can enjoy picnicking, walking trails, and playgrounds for children. For those interested in dining options, there are numerous cafes and restaurants in Covina, CA. From casual eateries serving up comfort food to upscale dining experiences, there is something to satisfy every palate. Whether visitors are looking to enjoy a day outdoors or indulge in a delicious meal, Covina, CA has plenty to offer in terms of amenities and dining options. Covina, CA Real Estate: Market Trends and Insights The median listing home price in Covina, CA experienced a decrease of -5.4% YoY in July 2023. This decline suggests that the Covina real estate market may be experiencing a shift in affordability. To further analyze the housing affordability in Covina, it is important to consider factors such as the median listing home price per square foot, the median home sold price, and the sale-to-list price ratio. Additionally, it is worth noting that Covina, CA is currently a seller’s market, with more buyers than available homes. On average, homes in Covina sell after 26 days on the market, and the median days on market has slightly decreased since last year. The Covina, CA real estate market forecast indicates that housing affordability may continue to be a concern for potential buyers. Blogging