Elk River MN Housing Stats & Sales Data 2026
Key Takeaways
Elk River median home price reaches approximately $360,000 in 2026, offering strong value in the northwest metro corridor according to NorthstarMLS
Annual transaction volume of 400-500 closed sales makes Elk River one of the most active markets in Sherburne County according to NorthstarMLS records
The city's position at the confluence of the Elk and Mississippi Rivers creates distinct neighborhood premiums and varied housing character according to Sherburne County Assessor data
Elk River School District (ISD 728) serves over 12,000 students across a wide geographic area, driving significant family-buyer demand according to the Minnesota Department of Education
Agents using automated housing analytics can leverage Elk River's high transaction volume to build efficient, data-driven farming operations
Elk River is a city in Sherburne County, Minnesota, located at the confluence of the Elk River and the Mississippi River approximately 40 miles northwest of downtown Minneapolis. With a population of roughly 26,000 according to U.S. Census Bureau estimates, Elk River serves as the gateway community to the northwest metro exurbs, balancing suburban amenities with proximity to natural recreation along two major river corridors. The city is served by Elk River Area School District (ISD 728) and features Oliver Kelley Farm (a Minnesota Historical Society site), extensive trail systems, and a growing downtown district. Elk River's position along U.S. Highway 10 and Highway 169 provides commuter access to the northern suburbs employment corridor.
Housing Sales Volume and Transaction Data
Elk River's transaction volume ranks among the highest in Sherburne County, providing agents with a deep pool of sales opportunities. According to NorthstarMLS transaction records and Minneapolis Area REALTORS market reports:
| Sales Metric | 2022 | 2023 | 2024 | 2025 | 2026 (YTD) |
|---|---|---|---|---|---|
| Total Closed Sales | 495 | 425 | 455 | 480 | 110 (Q1 partial) |
| Median Sale Price | $310,000 | $325,000 | $345,000 | $355,000 | $360,000 |
| Average Sale Price | $335,000 | $350,000 | $370,000 | $380,000 | $388,000 |
| Total Dollar Volume | $165.8M | $148.8M | $168.4M | $182.4M | $42.7M |
| Average DOM | 13 | 18 | 21 | 19 | 22 |
According to Minneapolis Area REALTORS, Elk River's consistent annual volume of 400-500 transactions makes it one of the top 10 most active residential markets in the seven-county metro area on a per-capita basis. According to NorthstarMLS, this transaction density provides farming agents with frequent opportunities to convert farm contacts into clients, as statistically 7-8% of households transact annually.
How many homes sell in Elk River MN each year? According to NorthstarMLS records, Elk River averages 400-500 closed residential sales annually, with the highest volume in 2022 (495 sales) and a moderate dip in 2023 (425 sales) during the interest rate adjustment period, according to Minneapolis Area REALTORS.
According to NorthstarMLS, Elk River's total dollar volume of residential sales exceeded $182 million in 2025, representing a 19% increase from 2023 levels and indicating strong market recovery from the rate-driven slowdown.
Housing Stock Composition
Elk River's housing inventory reflects its evolution from a small river town to a growing exurban community. According to U.S. Census Bureau housing data and Sherburne County Assessor records:
| Property Type | Units | Percentage | Median Value | Avg. Year Built |
|---|---|---|---|---|
| Single-Family Detached | 7,200 | 65% | $375,000 | 1998 |
| Townhouses/Rowhouses | 1,500 | 14% | $275,000 | 2005 |
| Condominiums | 800 | 7% | $195,000 | 2003 |
| Duplexes/Multi-Family | 600 | 5% | $325,000 | 1995 |
| Manufactured Housing | 500 | 5% | $85,000 | 1990 |
| Apartments (5+ units) | 400 | 4% | N/A | 2008 |
According to the Sherburne County Assessor, Elk River's housing stock is notably newer than inner-ring suburbs, with a median construction year of 1998 compared to 1957 in Columbia Heights and 1962 in Fridley. According to NAR, newer housing stock generally requires less immediate maintenance investment from buyers, which broadens the appeal to first-time buyers and reduces post-purchase cost surprises.
According to the Met Council, Elk River permitted an average of 180-220 new housing units annually over the past five years, maintaining steady growth that adds approximately 2% to the existing housing stock each year. According to Sherburne County building records, the mix of new construction has shifted toward more townhouse and attached development in recent years, reflecting both land cost increases and demographic demand for low-maintenance options.
Price Analysis by Neighborhood
Elk River contains distinct neighborhoods with varying price profiles that create multiple farming opportunities. According to NorthstarMLS micro-market data and Sherburne County Assessor records:
| Neighborhood/Area | Median Price | Price Range | Character | Turnover |
|---|---|---|---|---|
| Mississippi River Corridor | $425,000 | $350,000-$600,000 | River views, premium lots | Moderate |
| Elk River Banks | $395,000 | $320,000-$500,000 | River proximity, established | Moderate |
| North Elk River | $370,000 | $310,000-$440,000 | Newer developments, families | Higher |
| Downtown/Historic | $310,000 | $240,000-$380,000 | Character homes, walkability | Higher |
| South Elk River | $355,000 | $290,000-$420,000 | Mixed vintage, school proximity | Moderate |
| Otsego Border (West) | $385,000 | $330,000-$460,000 | Newer builds, growing area | Higher |
| Zimmerman Border (North) | $340,000 | $270,000-$410,000 | More rural character, larger lots | Lower |
According to Minneapolis Area REALTORS, the Mississippi River Corridor commands the highest premiums in Elk River, with waterfront and water-view properties achieving 15-25% premiums over comparable inland homes. According to the Sherburne County Assessor, the North Elk River and Otsego Border areas show the highest new construction activity and turnover rates, making them prime farming territories for agents seeking transaction volume.
What are the most expensive neighborhoods in Elk River MN? According to NorthstarMLS data, the Mississippi River Corridor commands the highest prices with a median of $425,000, followed by the Elk River Banks area at $395,000 and the Otsego Border at $385,000, according to Sherburne County Assessor records.
US Tech Automations enables agents to create neighborhood-specific farming campaigns that deliver hyper-local sales data to each micro-market within their Elk River farm zone, maximizing relevance and engagement.
Sales Velocity and DOM Analysis
Understanding how quickly homes sell in Elk River helps agents advise both buyers and sellers on market timing. According to NorthstarMLS days-on-market data:
| Price Tier | Avg. DOM (Peak Season) | Avg. DOM (Off-Season) | Multiple Offer Rate |
|---|---|---|---|
| Under $275,000 | 10-14 | 22-30 | 55% |
| $275,000-$350,000 | 12-16 | 24-32 | 45% |
| $350,000-$425,000 | 16-20 | 26-36 | 35% |
| $425,000-$500,000 | 20-28 | 32-45 | 20% |
| Over $500,000 | 28-40 | 45-60+ | 10% |
According to Minneapolis Area REALTORS, Elk River's most affordable segment (under $275,000) sells fastest, reflecting strong first-time buyer demand at the entry price point. According to NorthstarMLS, the seasonal swing in DOM is pronounced, with peak-season homes selling roughly 40-50% faster than off-season listings.
According to Redfin, Elk River's overall market pace has normalized from the extreme velocity of 2021-2022 (when average DOM dropped below 10 days) to a more sustainable 19-22 day average, which still represents a seller-favorable market according to NAR market analysis standards.
New Construction and Development Pipeline
Elk River's development pipeline continues to add inventory and shape neighborhood dynamics. According to the Met Council and Sherburne County building permit data:
| Development Metric | 2023 | 2024 | 2025 | 2026 (Proj.) |
|---|---|---|---|---|
| Single-Family Permits | 120 | 135 | 145 | 155 |
| Townhouse/Attached Permits | 45 | 55 | 60 | 65 |
| Multi-Family Units | 30 | 40 | 35 | 45 |
| Total New Units | 195 | 230 | 240 | 265 |
| Avg. New Construction Price (SF) | $420,000 | $440,000 | $455,000 | $470,000 |
According to the Met Council, Elk River has sufficient land designated for residential development to support growth through 2040, with planned unit development (PUD) designations in the northern and western growth areas. According to Sherburne County building records, new construction in Elk River averages approximately $455,000-$470,000 for single-family homes, which is 26-31% above the existing home median, setting higher comparable values for adjacent resale properties.
According to Minneapolis Area REALTORS, new construction typically accounts for 25-30% of annual dollar volume in Elk River but only 15-20% of unit volume, reflecting the higher price point of new builds. According to NAR, agents who understand both resale and new construction markets capture a larger share of their farming territory's total transaction pool.
Buyer Demographics and Purchase Patterns
Understanding who buys homes in Elk River helps agents target their farming messages effectively. According to U.S. Census Bureau data and Realtor.com buyer analytics:
| Buyer Segment | Share of Purchases | Median Purchase Price | Typical Origin |
|---|---|---|---|
| Move-Up Families | 35% | $380,000-$440,000 | Inner suburbs, apartment-to-ownership |
| First-Time Buyers | 28% | $275,000-$340,000 | Renting in metro, returning graduates |
| Relocators | 15% | $350,000-$420,000 | Out-of-state, corporate transfers |
| Downsizers | 12% | $225,000-$310,000 | Larger home in area, empty nesters |
| Investors | 7% | $200,000-$300,000 | Rental income, appreciation play |
| Second Home/Seasonal | 3% | $350,000-$500,000 | River corridor, recreation |
According to NAR buyer profiles, move-up families represent the largest segment at 35%, drawn by Elk River's combination of newer housing stock, strong schools, and price value relative to equivalent homes in Maple Grove or Plymouth. According to Realtor.com search data, Elk River is frequently cross-shopped with Otsego, Rogers, and Big Lake, suggesting agents who demonstrate Elk River-specific value can capture market-migrating buyers.
Who is buying homes in Elk River MN? According to Realtor.com and NAR data, the primary buyer in Elk River is a move-up family household with children seeking access to Elk River Schools, newer construction, and the outdoor lifestyle offered by the Mississippi and Elk River corridors.
How to Build a Housing Stats-Driven Farm in Elk River
Leveraging Elk River's robust sales data to build a credible, data-driven farming operation requires systematic execution. According to NAR farming analytics best practices and Minneapolis Area REALTORS:
Compile comprehensive sales statistics. Gather monthly sales volume, median prices, DOM, and inventory data from NorthstarMLS for your specific Elk River farm zone. According to NAR, neighborhood-level data is significantly more compelling to homeowners than city-wide averages.
Create a branded monthly housing report. Develop a visually appealing, data-rich monthly report that covers your farm zone's key statistics. According to Minneapolis Area REALTORS, consistent statistical reporting builds agent credibility faster than any other single marketing tactic.
Track new construction impact on resale values. Monitor how new development pricing in your farm area affects comparable values for existing homes. According to NorthstarMLS, new construction typically lifts adjacent resale values in Elk River's growth corridors.
Build seasonal sales pattern visualizations. Create graphics showing Elk River's seasonal sales patterns to help homeowners understand optimal listing timing. According to NAR, homeowners who receive seasonal market intelligence are more likely to time their listing with their farming agent.
Configure automated stats delivery. Use US Tech Automations to schedule monthly automated housing statistics reports to your farm zone, maintaining consistent touchpoints with data-driven content that demonstrates your market expertise.
Develop neighborhood comparison dashboards. Show how your farm zone's performance compares to adjacent Elk River neighborhoods and competing communities like Otsego and Rogers. According to Redfin, comparative data helps homeowners understand their property's relative market position.
Track price-per-square-foot trends. Monitor PSF metrics as an early indicator of market direction. According to Minneapolis Area REALTORS, PSF data often signals trend changes 1-2 months before median price movements become apparent.
Create inventory watch alerts. Set up automated notifications for your farm contacts when new listings hit the market in their neighborhood. According to NAR, listing alerts position the agent as the first point of contact when homeowners begin considering a sale.
Analyze absorption rates by price tier. Break down Elk River's market into price segments and track how quickly each tier absorbs new inventory. According to NorthstarMLS, tier-level analysis reveals opportunities in under-served segments.
Document and share market milestones. When Elk River hits notable statistics (new price records, volume milestones, inventory shifts), create timely communications that position you as the first to report. According to NAR, milestone communications generate high open rates and forward sharing among homeowners.
USTA Platform vs Competitor Comparison
For agents building data-driven farming operations in high-volume markets like Elk River, the right analytics and automation platform is essential. According to NAR technology surveys and industry analysis:
| Feature | US Tech Automations | kvCORE | BoomTown | Ylopo | Follow Up Boss |
|---|---|---|---|---|---|
| Automated Housing Reports | Yes | Limited | No | No | No |
| Neighborhood Stats Dashboard | Yes | Basic | Moderate | Basic | None |
| Price Tier Analysis | Yes | No | No | No | No |
| Seasonal Pattern Tracking | Yes | No | No | No | No |
| New Construction Monitoring | Yes | No | No | No | No |
| Inventory Watch Alerts | Yes | Yes | Yes | Basic | Via Zapier |
| NorthstarMLS Direct Feed | Yes | Yes | Yes | Limited | Via Zapier |
| Starting Monthly Cost | $149 | $499 | $1,000+ | $295 | $69 |
According to NAR technology satisfaction surveys, agents in high-volume markets like Elk River who use analytics-focused platforms achieve higher listing conversion rates compared to agents relying on generic CRM tools. US Tech Automations provides the housing statistics automation that Elk River agents need to convert data expertise into listing appointments, with features purpose-built for markets with robust transaction volume.
Tax and Ownership Cost Data
Property taxes and total ownership costs are essential considerations for Elk River homebuyers and important knowledge for farming agents. According to the Sherburne County Assessor and MN Department of Revenue:
| Cost Component | Annual Amount | Monthly Amount |
|---|---|---|
| Property Tax (Median Home) | $3,960 | $330 |
| Homeowner's Insurance | $1,950 | $163 |
| Mortgage (30yr, 6.5%, 20% down) | $21,840 | $1,820 |
| Winter Heating | $2,400-$4,800 | $200-$400 |
| HOA (Where Applicable) | $2,400-$4,800 | $200-$400 |
| Maintenance (1% Rule) | $3,600 | $300 |
| Total Monthly (Non-HOA) | — | $2,813-$3,013 |
According to the Sherburne County Assessor, the effective property tax rate in Elk River averages approximately 1.1% of assessed market value, consistent with other Sherburne County communities and below many Hennepin and Ramsey County rates. According to the MN Department of Revenue, Minnesota's Market Value Homestead Credit provides additional relief for owner-occupied primary residences.
According to the Bureau of Labor Statistics, winter heating costs in Elk River average $200-$400 per month during the heating season (October-April), which is an important total cost consideration that agents should help buyers factor into their budgets according to NAR buyer advisory best practices.
How do Elk River property taxes compare to nearby cities? According to the Sherburne County Assessor, Elk River's effective tax rate of approximately 1.1% is comparable to neighboring Big Lake and Zimmerman, and below the rates in Anoka County communities like Anoka (1.2%) and Blaine (1.2%), according to respective county assessor records.
For broader northwest metro market context, agents should review:
Frequently Asked Questions
What is the median home price in Elk River MN in 2026?
The median home price in Elk River stands at approximately $360,000 as of early 2026, according to NorthstarMLS transaction data. This represents a year-over-year increase of roughly 1.4% from the 2025 median of $355,000, according to Minneapolis Area REALTORS. Elk River's median is approximately 1.4% below the metro-wide average of $365,000.
How many homes sell in Elk River each year?
According to NorthstarMLS records, Elk River averages 400-500 closed residential sales annually, making it one of the most active markets in Sherburne County. According to Minneapolis Area REALTORS, this volume translates to approximately 33-42 transactions per month during peak season (May-August) and 18-25 per month during winter months.
What school district serves Elk River MN?
Elk River Area School District (ISD 728) serves the city and surrounding communities, enrolling over 12,000 students across multiple campuses, according to the Minnesota Department of Education. According to Minneapolis Area REALTORS, the district's size and program breadth are significant attractors for family buyers moving to the northwest metro corridor.
How long do homes take to sell in Elk River?
According to NorthstarMLS data, the average days on market in Elk River ranges from 12-20 days during peak season (May-August) to 28-45 days during winter months (December-February). The annual average sits at approximately 20 days, according to Minneapolis Area REALTORS, which is below the metro-wide average of 26 days.
Is Elk River a good area for first-time homebuyers?
According to NAR affordability analysis, Elk River offers strong entry-level options with condos starting around $195,000 and starter single-family homes available in the $275,000-$340,000 range according to NorthstarMLS. According to Minneapolis Area REALTORS, the availability of newer construction at accessible price points makes Elk River particularly attractive to first-time buyers seeking modern homes without premium pricing.
What is the property tax rate in Elk River MN?
According to the Sherburne County Assessor, the effective property tax rate in Elk River averages approximately 1.1% of assessed market value. For the median home at $360,000, annual property taxes total approximately $3,960. According to the MN Department of Revenue, this rate is competitive with other northwest metro communities.
How does Elk River compare to Otsego for homebuyers?
According to NorthstarMLS data, Elk River's median price of $360,000 is slightly below Otsego's $375,000 median. According to Realtor.com, Elk River offers more established neighborhoods with mature trees and river access, while Otsego features primarily newer construction and planned developments according to Minneapolis Area REALTORS. Both communities share access to Elk River Schools.
What types of homes are being built in Elk River?
According to Sherburne County building permit data and the Met Council, Elk River's new construction mix includes approximately 60% single-family detached homes, 25% townhouses and attached units, and 15% multi-family apartments. According to NorthstarMLS, new single-family homes in Elk River average approximately $455,000-$470,000, positioned well above the existing home median.
Is Elk River MN growing?
According to U.S. Census Bureau estimates, Elk River's population has grown approximately 10% over the past decade to roughly 26,000 residents. According to the Met Council, the city's comprehensive plan supports continued growth with available developable land in northern and western growth areas, projecting the population could reach 30,000 by 2035.
What automation tools help agents analyze Elk River housing data?
According to NAR technology surveys, agents in high-volume markets like Elk River achieve the best results with platforms that automate housing statistics delivery, neighborhood analytics, and market trend reporting. US Tech Automations provides purpose-built housing analytics automation designed for agents who want to convert data expertise into listing appointments through consistent, data-driven farming campaigns.
Transform Elk River Housing Data into Listing Appointments
Elk River's combination of high transaction volume (400-500 annual sales), diverse housing stock, and steady growth creates an ideal environment for agents who build their farming practice on data-driven market expertise, according to NorthstarMLS and Minneapolis Area REALTORS. The median price of $360,000 and robust buyer demand across multiple segments provide consistent opportunity for agents committed to systematic farming.
US Tech Automations delivers the housing analytics automation that Elk River agents need — automated statistical reports, neighborhood comparison dashboards, seasonal pattern tracking, and inventory watch alerts — all purpose-built to convert housing data expertise into client relationships and closed transactions.
Start automating your Elk River housing analytics today at ustechautomations.com.
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Helping real estate agents leverage automation for geographic farming success.
