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

Balanced 3 months ending August 31, 2026 · Source: Redfin

Elko New Market is a balanced market. With about 5.2 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply5.2Under 4 months = seller’s market

Sold above original list9.5%Share of sales, last 3 months

Median sale-to-list99%Sold price ÷ list price

Median days on market59Listing to accepted offer

Median price per sq ft$211▲ +8.7% vs. last year

Run the numbers for 55020

Prefilled for 55020Can I win this house?Multiple-offer likelihood for a listing Prefilled for 55020Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Belle Plaine 56011Seller’s market $175 /sq ft Elko New Market 55054Seller’s market $196 /sq ft Jordan 55352Seller’s market $200 /sq ft Prior Lake 55372Seller’s market $206 /sq ft Browse all markets →

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology