Is Covington, KY 41016 a buyer’s or seller’s market?

The Covington housing market right now

In the three months ending August 31, 2026, 20% of homes in Covington, KY 41016 sold above their list price, the typical home went under contract in 19 days and there were 2.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 41 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 32%, homes sold more slowly (8 days then) and the median sale price rose 9% to $247,193. Overall, Covington is less competitive than a year ago, which gives buyers more room.

Within Kenton County, homes here sell more slowly than in any other ZIP code in the county, and sell less often over asking than in 71%. On our competition score, Covington ranks #32 of 160 KY ZIP codes with enough sales (score 58 out of 100).

Nearby, buyers who want less competition could look at Covington 41011 (14% sold over asking) or Latonia 41015 (17% sold over asking), while Morning View 41063 (67% sold over asking) and Erlanger 41018 (30% sold over asking) are even more competitive.