Real Estate Market Update for Elk River, MN
Hide / View Video Transcript
Hide / View Video Transcript
Welcome to August's Market Update,. Let’s take a look at residential real-estate activity in your area during the month of August. The number of active listings was up 11% from one year earlier, and down 9% from the previous month. Even so, buyers still enjoyed a greater selection of homes today than they did one year ago. As you can see, the median listing price for the month was just under 240-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 9%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 190-thousand dollars. The number of units sold decreased 16% year-over-year, and decreased 8% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Map Information for Elk River, MN
Area Information for Elk River, MN
  • Population: 23,597
  • Median Age: 34.22 yr
  • Median Commute Time: 25.92 mins
  • Educational Climate*: 4
  • Sales Tax: 6.875%
  • Population Density: 558/sq mi
  • Population Change Since 2000: 42.62%
  • Closest Airport: Minneapolis-st Paul International/wold-chamberlain
  • Closest College: Herzing University
  • Closest Jr. College: Anoka-ramsey Community College
  • Median Household Income: $74,678
  • Annual Residential Turnover: 17.26%
  • Median Years in Residence: 3.93 yr
  • Median Home Sales Price: $164,000
  • Closest Major Sports Team: Vikings
  • Change Avg. Household Income Since 2000: 28%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Elk River, MN
Median Age: 34.22 Married: 34% Number of Households: 8,380 Households with Children: 3,533
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for Elk River, MN

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Solid Rock Christian Academy 1.2 mi Private 1-10 0 0
      Salk Middle School 1.8 mi Public 6-8 4-5 3
      Monarch Montessori School 2.0 mi Private PRESCHOOL-6 0 5
      Meadowvale Elementary School 2.0 mi Public K-5 3-5 4
      Elk River District Level 5 Program 2.3 mi Public 6-8 0 0
      Vandenberge Middle School 2.3 mi Public 6-8 4-5 5
      Lincoln Elementary School 2.3 mi Public K-5 3-5 5
      Parker Elementary School 2.3 mi Public K-5 4 4
      Elk River Senior High School 2.3 mi Public 9-12 4 3
      Ivan Sand Community School-middle 2.4 mi Public 9-12 0 0
      St Andrew Catholic School 2.7 mi Catholic PRESCHOOL-5 0 5
      Handke Family Center 2.9 mi Public PRESCHOOL-PRESCHOOL 0 0
      Twin Lakes Elementary 2.9 mi Public K-5 0 0
      St. John Lutheran School 3.3 mi Private PRESCHOOL-8 0 5
      Spectrum High School 3.5 mi Public 6-12 3-5 4
      Otsego Elementary School 5.4 mi Public K-5 2-5 4
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics © 2014
      Local Weather for Elk River, MN
        Community information and market data Powered by Onboard Informatics. Copyright ©2014 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.