Is Elko New Market, MN 55020 a buyer’s or seller’s market?

The Elko New Market housing market right now

In the three months ending August 31, 2026, 10% of homes in Elko New Market, MN 55020 sold above their list price, the typical home went under contract in 59 days and there were 5.2 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 22 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 23%, homes sold more slowly (41 days then) and the median sale price fell 6% to $479,792. Overall, Elko New Market is less competitive than a year ago, which gives buyers more room.

Within Scott County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county. On our competition score, Elko New Market ranks #279 of 296 MN ZIP codes with enough sales (score 29 out of 100).

Nearby, Belle Plaine 56011 (33% sold over asking) and Savage 55378 (33% sold over asking) are even more competitive.