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

Seller’s market 3 months ending August 31, 2026 · Source: Redfin

Elko New Market is a seller’s market. With about 3.7 months of supply and 23% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.

Months of supply3.7Under 4 months = seller’s market

Sold above original list23.1%Share of sales, last 3 months

Median sale-to-list99.8%Sold price ÷ list price

Median days on market53Listing to accepted offer

Median price per sq ft$196▲ +6.5% vs. last year

Run the numbers for 55054

Prefilled for 55054Can I win this house?Multiple-offer likelihood for a listing Prefilled for 55054Over-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 55020Balanced $211 /sq ft Jordan 55352Seller’s market $200 /sq ft Prior Lake 55372Seller’s market $206 /sq ft Browse all markets →

More tools for 55054

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value

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