Is Algona, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Algona is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Algona has remained a Seller's Market.

Key Takeaway

Algona is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Algona, WA

How much do homes in Algona, WA cost?

Median Sold Price

$450,000

$297/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$11,490(+2.6%)

Key Takeaway

Homes in Algona have sold for 2.6% more than they did a year ago.

Summary: The median home sold price in Algona was $450,000 in March 2024, up 2.6% from last year, and the median price per square foot was $297.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $387.5K$410K
+5.8%
3 $412.5K$447.4K
+8.5%
4 $564.5K$572.5K
+1.4%
5+ $589.5K-
N/A

Summary: Algona housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Algona
+2.6%
Pacific
+1.2%
Federal Way-Auburn
+1.0%
Auburn
0.3%

Housing Supply in Algona, WA

How many homes are available in Algona, WA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
87-12.5%

Summary: The Algona real estate market had 7 homes for sale in March 2024, a 12.5% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 00
0.0%
3 42
-50.0%
4 34
+33.3%
5+ 11
0.0%

Summary: The Algona housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Algona, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Algona in March 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Algona, WA

How long does it take to sell a home in Algona, WA?

Average Sale Time

Mar 2023Mar 2024CHANGE
22 Days10 Days-53.2%

Summary: Homes in Algona had an average of 10 days on market in Mar 2024, down by 53.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Algona are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 2 homes were sold in Algona; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 11 Days Ago

Newest Listings in Algona, WA

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