Photo: ElkRiverCommunications · CC BY-SA 4.0420 homes sold in Elk River in the last year, at a typical $407K
About one sale in 4 is a condo. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Elk River homes are listed.
Every place Elk River homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Elk River.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 76% of Elk River’s sales, at a typical $426K
420 homes sold in the year to May 2026.
typical sale · 318 sold in 12 months
- Per square foot
- $189MN $191
- Days to sell
- 40
- Sold over asking
- 34%
- Listings with a price cut
- 35%
Townhouses: 102 sold, typical $286K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.8 times the 2016 price
420 sales in the last year, against 573 in 2019 and a low of 333 in 2023. The typical sale went from $228K in 2016 to $407K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $400K buys in Elk River
Check a listing against what Elk River homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Elk River are back to pre-pandemic levels, but a quarter fewer homes come up for sale
We read every month of Elk River’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 420 sales.
If you’re buying in Elk River
- Shop in July. It brings about 55 new listings a month, close to the busiest month, with fewer bidding wars (41% over asking).
- You can negotiate. 31% of listings have cut their price, against 22% before the pandemic.
- Bid near asking. Buyers paid 99.5% of the list price on average; 34% paid over.
- You’ll usually have time. Only 37% of homes go under contract within two weeks; the typical one takes 39 days.
Spring brings the homes; summer brings the bidding wars
May has the most new listings (about 66 a month), but June is the most competitive: 47% of June sales close over asking. July offers nearly as much choice with fewer homes bid up (41%). December has the least competition (28%) but only about 19 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Minnesota as a whole
| Elk River now | 2017–19 | 2021 peak | MN now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 34% | 38% | 59% | 33% |
| Gone within two weeksShare of homes under contract within 14 days | 37% | 47% | 66% | 42% |
| Listings with a price cutShare of homes for sale that cut their price | 31% | 22% | 11% | 28% |
| Price paid vs. askingAverage sale price ÷ list price | 99.5% | 99.9% | 102.8% | 99.2% |
| Days to sellMedian days from listing to contract | 39 | 31 | 17 | 35 |
81 homes for sale on a typical day
That’s 1.4 times the 2021 low (58), 22% fewer than in 2017–19 and well under 2013’s 149.
1 in 3 listings has cut its price
31% in the last year, against 22% in 2017–19 and 28% across Minnesota. More sellers are pricing high and coming down.
Elk River ranks 67th of 144 busy Minnesota markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Elk River is in the middle of the pack.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Elk River home costs about $2,517 a month
Price: Elk River’s typical sale, last 12 months. Property tax at Elk River’s 1.2% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Elk River is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in May
The month with the most choice. December has the fewest, about 19.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $407K home, about $4,730 a year.
Taxes vs. neighborsSchools
The schools grade for Elk River, from test results, graduation and how much students grow.
Schools in Elk RiverTypical commute
The average one-way trip to work for people who live in Elk River.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Ramsey and Big Lake sell for less a square foot
The busier markets within 25 miles of Elk River, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Ramsey | 513 | $385K | $180 | 34% | 35 |
| Otsego | 445 | $453K | $189 | 29% | 49 |
| Elk River | 420 | $407K | $187 | 34% | 39 |
| Big Lake | 187 | $328K | $179 | 48% | 28 |
| Zimmerman | 133 | $339K | $184 | 31% | 39 |
| Albertville | 87 | $374K | $185 | 29% | 34 |
| Nowthen | 29 | $522K | $214 | 28% | 76 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Elk River, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Elk River. People who follow the town see it, and so do people comparing Elk River with their own town. No commission, no listing fee.
Questions about buying a home in Elk River
What do homes sell for in Elk River, MN?
420 homes sold in the year to May 2026 at a typical $407K, $187 a square foot.
Is Elk River a buyer’s or seller’s market?
A seller’s market: 68 homes were for sale in May 2026 and 44 sold, about 1.5 months of supply. Buyers paid 99.5% of asking on average, and 31% of listings cut their price.
When is the best time to buy in Elk River?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Elk River?
About 1.2% of a home’s value a year. On a $407K home that’s near $4,730.
Where can I see homes for sale in Elk River?
Zillow, Redfin, Realtor.com and Homes.com all carry Elk River’s MLS listings; the search links above open each one filtered to Elk River.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).