Covina Market Update for March 2022

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Located 22 miles east of downtown Los Angeles, Covina has a population of 51,268 according to the 2020 census.

In the last 30 days, 27 homes have sold and spent an average of 27 days on the market. The average sale price was $775,778 with homes selling at 102.5% of the list price. The average price per square foot is on the rise at $533.

There are currently 27 active listings ranging in price from $450,000 for a 3 bedroom, 2 bath, 1015 square foot condo to $2,999,990 for a 4 bedroom, 3 bath, 3605 square foot single family residence.

Prices are expected to hold steady as inventory remains very low and interest rates of FHA loans coming in as low as 3.6%.

If you’re looking to buy or sell a home in Covina, CA or the surrounding area, contact your local real estate expert for a free consultation.