Elk River Real Estate Market Report: September 2025
In September 2025, the median sale price in Elk River was $387,450, up 0.6% from a year earlier.
- Median Sales Price
- $387,450
- +0.6% vs. September 2024
- Homes for Sale
- 108
- +2.9% vs. September 2024
- Months Supply
- 3
- -9.1% vs. September 2024
- Balanced market
- Days on Market
- 50
- +2% vs. September 2024
- Closed Sales
- 38
- +22.6% vs. September 2024
- Percent of Original List Received
- 97.8%
- -1 pts vs. September 2024
What this means
Home values are holding steady within one percent of last year, with a median sale price of $387,450.
Homes are selling 1 day longer than last year, averaging 50 days on market, and sellers are receiving 97.8% of their original asking price.
The area is currently a balanced market with 3 months of supply. Active inventory is up 3% from last year to 108 homes for sale.
In a balanced market, neither side has a steep advantage, making careful pricing for sellers and steady negotiation for buyers the key to success.
Common questions about the Elk River market
Is Elk River a buyer's or seller's market?
Elk River was a balanced market in September 2025, with 3 months of supply. Under about 3 months generally favors sellers, 3 to 6 months is considered balanced, and over 6 months favors buyers. There were 108 homes for sale.
How fast are homes selling in Elk River?
Homes that sold in September 2025 spent an average of 50 days on market, 1 day slower than a year earlier. Sellers received 97.8% of their original list price on average.
Are home prices going up in Elk River?
Yes. The median sale price rose 0.6% year over year to $387,450. Price per square foot moved in the same direction (from $209 to $224), which suggests a real change in values rather than a shift in the mix of homes sold.
Market trends in Elk River
| Month | Median sale price | Closed sales | Days on market | Months supply |
|---|---|---|---|---|
| August 2024 | $379,900 | 55 | 56 | 3.5 |
| September 2024 | $385,000 | 31 | 49 | 3.3 |
| October 2024 | $364,900 | 39 | 52 | 3.7 |
| November 2024 | $467,099 | 20 | 90 | 3.3 |
| December 2024 | $401,250 | 32 | 71 | 2.7 |
| January 2025 | $385,000 | 23 | 67 | 2.5 |
| February 2025 | $415,450 | 28 | 101 | 2.4 |
| March 2025 | $376,950 | 26 | 69 | 2.8 |
| April 2025 | $430,900 | 35 | 59 | 3.2 |
| May 2025 | $365,000 | 42 | 30 | 3.5 |
| June 2025 | $405,000 | 45 | 22 | 3.7 |
| July 2025 | $419,900 | 49 | 54 | 3.4 |
| August 2025 | $420,000 | 50 | 65 | 3.4 |
| September 2025 | $387,450 | 38 | 50 | 3 |
How Elk River compares with the Twin Cities region
In September 2025, the median sale price in Twin Cities (16-County Region) was $390,000, up 2.6% from a year earlier.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published August 24, 2026.
Report published .
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