With only 0.8 months of inventory, Algona remains a seller's market. Home prices have increased 6.5% in the past month alone. At the current pace, all available homes in Algona would sell out in just 0.8 months, indicating a continued supply shortage. Homes are taking about 57 days to sell, which is 0 days longer than this time last year. A significant 33.3% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 50.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Algona market with the affordability index at 1310.4. Based on current market indicators, home prices in Algona are projected to decrease by approximately 12.4% over the next month.