Is Elko New Market, MN 55054 a buyer’s or seller’s market?

The Elko New Market housing market right now

In the three months ending August 31, 2026, 23% of homes in Elko New Market, MN 55054 sold above their list price, the typical home went under contract in 53 days and there were 3.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 13 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 26%, homes sold more slowly (27 days then) and the median sale price rose 14% to $474,895. Overall, Elko New Market is less competitive than a year ago, which gives buyers more room.

Within Scott County, homes here sell more slowly than in 83% of the county’s ZIP codes, and sell less often over asking than in 67%.

Nearby, buyers who want less competition could look at Elko New Market 55020 (10% sold over asking) or Jordan 55352 (14% sold over asking), while Belle Plaine 56011 (33% sold over asking) and Savage 55378 (33% sold over asking) are even more competitive.