Is Elko New Market, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Elko New Market has remained a Seller's Market.
Housing Prices in Elko New Market, MN
How much do homes in Elko New Market, MN cost?
Median Sold Price
$462,773
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Elko New Market was $462,773 in April 2024, up 1.7% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $419.1K | $322.5K | -23.1% |
3 Bedrooms | $380K | $396K | +4.2% |
4 Bedrooms | $470K | $480K | +2.1% |
5+ Bedrooms | $485K | $524.9K | +8.2% |
Summary: Elko New Market housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23.1%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Cities
New Market Township | $601.2K | $615K | +2.3% |
Elko New Market | $455K | $462.7K | +1.7% |
Webster | $559.3K | $496.9K | -11.2% |
Housing Supply in Elko New Market, MN
How many homes are available in Elko New Market, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
39 | 39 | 0.0% |
Summary: The Elko New Market real estate market had 39 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 1 | +100.0% |
3 Bedrooms | 10 | 8 | -20.0% |
4 Bedrooms | 24 | 23 | -4.2% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Elko New Market housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 10 | +42.9% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Elko New Market in April 2024, up by 42.9% month-over-month. Of the 10 sold homes, 30% were sold under asking, 40% were sold at asking, and 30% were sold over asking.
Days on Market for Elko New Market, MN
How long does it take to sell a home in Elko New Market, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
78 Days | 18 Days | -76.2% |
Summary: Homes in Elko New Market had an average of 18 days on market in Apr 2024, down by 76.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in Elko New Market; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.