Real estate market data for Elk River, MN provided by Myra Jensen, The Jensen Team – Home Marketing Experts of Keller Williams Classic Realty NW
Current Home Prices in Elk River MN
If you are considering buying a home you can still find deals on a house in Elk River but having a real estate agent who understands the market is a must. Don’t wait too long, many of our listings are starting to sell within a few days of hitting the market. To make sure you don’t overpay for your home, you’ll want to have an agent that does a thorough market analysis of the Elk River home on which you are making an offer.
If you are interested in current inventory on the market in Elk River you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. If you price a home at market value, and market it correctly in an appreciating market, there is an excellent opportunity for the home to sell above list price with terms that meet the sellers needs.
The Jensen Team – Home Marketing Experts of Keller Williams Classic Realty NW bring you the latest Elk River MN Real Estate Market Update from the Minneapolis Area Association of Realtors and Northstar MLS.
Please check back here often for the latest Elk River MN Real Estate Market Update. This page is updated daily.
Calculations are based on sold data. Prices do not account for seller concessions. Median represents the point at which half of the homes that sold in a given month were priced higher and half were priced lower. Average is the mean sales price for all closed sales in a given month.
Active inventory vs. the last 12 months of homes deemed Under Contract. Also known as “absorption rate” in some circles. Over 6 Months supply is known as a “Buyers Market”, 5-6 Months is “Balanced” and Under 5 Months is known as a “Sellers Market”
Median Days on Market
Median or average number of days between when a property is listed and when an offer is accepted in a given month. Calculations are based on sold data.*
A count of the actual sales that have closed in a given month. For those familiar with NorthstarMLS data fields, this includes SOLD and COMP SOLD figures. Calculations are based on sold data.
Homes for Sale
The number of properties available for sale in active status at the end of a given month. Also known as inventory.
* Sales with a Days on Market of less than 0 or more than 900, or a Percent of Original Price that is less than 50 percent or more than 200 percent, are added to the sales count but are not factored into price, price per square foot or days on market.