#6637408, Listing Office: eXp Realty
Elk River Housing Market Report January 2025•Sherburne County, Minnesota
Housing Prices in Elk River, MN
How much do homes in Elk River, MN cost?
Housing Market Conditions
Is Elk River, MN a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Elk River is a Neutral Market
Difference Since January 2024
At the same time last year, Elk River was a Seller's Market.
Elk River is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Median Sold Price
Based on all homes sold in the last 12 months
Homes in Elk River have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Elk River was $404,800 in January 2025, up 1.8% from last year, and the median price per square foot was $190.
Median Sold Price By Bedrooms
Beds | Jan 2024 | Jan 2025 | Change YoY |
---|---|---|---|
11 Bedroom | $155.9K | $221K | +41.8% |
22 Bedrooms | $250K | $269.7K | +7.9% |
33 Bedrooms | $339.6K | $374K | +10.1% |
44 Bedrooms | $445.5K | $457.5K | +2.7% |
55+ Bedrooms | $499K | $495K | -0.8% |
Summary: Elk River housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +41.8%. The home price for 2 bedroom homes increased by +7.9%. The home price for 3 bedroom homes increased by +10.1%. The home price for 4 bedroom homes increased by +2.7%. The home price for 5 bedroom homes decreased by -0.8%.
Housing supply in Elk River, MN
How many homes are available in Elk River, MN?
Number of Homes For Sale
Last Month | 2 months ago | Change MoM |
---|---|---|
237Last MonthJan 2025 | ||
1992 months agoDec 2024 | +19.1 % Change MoMDec – Jan |
Summary: The Elk River real estate market had 237 homes for sale in Jan 2025, a 19.1 % increase compared to Dec 2024.
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
37Last MonthJan 2025 | ||
442 months agoDec 2024 | -15.9 % Change MoMDec – Jan |
Homes For Sale By Bedroom Count
Beds | Dec 2024 | Jan 2025 | Change MoM |
---|---|---|---|
11 Bedroom | 0 | 0 | 0.0% |
22 Bedrooms | 32 | 37 | +15.6% |
33 Bedrooms | 57 | 72 | +26.3% |
44 Bedrooms | 68 | 82 | +20.6% |
55+ Bedrooms | 42 | 46 | +9.5% |
Summary: Elk River housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +15.6%. The inventory for 3 bedroom homes increased by +26.3%. The inventory for 4 bedroom homes increased by +20.6%. The inventory for 5 bedroom homes increased by +9.5%.
Asking Price vs. Sold Price
How much do homes in Elk River, MN cost?
Over Asking Price8 Homes
At Asking Price9 Homes
Under Asking Price20 Homes
If you're buying a home in Elk River, you may be able to get a good deal. 54.1% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in Elk River in January 2025, down by 15.9% month-over-month. Of the 37 sold homes, 54% were sold under asking, 24% were sold at asking, and and 22% were sold over asking.
Days on Market for Elk River, MN
How long does it take to sell a home in Elk River, MN?
Breakdown of Home Sale Times
Under 30 Days13 Homes
30 – 90 Days20 Homes
Over 90 Days4 Homes
Avg time on Rocket Homes in Elk River has remained consistent over time.
Summary: During January 2025, 37 homes were sold in Elk River; 35% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Average Sale Time
This Year | 1 year ago | Change YoY |
---|---|---|
47 DaysThis YearJan 2025 | ||
49 Days1 year agoJan 2024 | -3.2 % Change YoYJan 2024 – Jan 2025 |
Summary: Homes in Elk River had an average listing age of 47 days in Jan 2025, down by 3.2% compared to the previous year.
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Newest Listings in Elk River, MN
What homes are available in Elk River, MN?
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MLS Disclaimers and Copyright
Based on information from NorthStar of Minnesota / Regional Multiple Listing Service of Minnesota Inc., for the period 02/01/2023 - 02/01/2025


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Last updated on: 2/7/2025, 11:52:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.