Elk River Real Estate Market Report: March 2026
In March 2026, the median sale price in Elk River was $407,450, up 8.1% from a year earlier.
- Median Sales Price
- $407,450
- +8.1% vs. March 2025
- Homes for Sale
- 76
- -16.5% vs. March 2025
- Months Supply
- 2.1
- -25% vs. March 2025
- Seller's market
- Days on Market
- 72
- +4.3% vs. March 2025
- Closed Sales
- 24
- -7.7% vs. March 2025
- Percent of Original List Received
- 99.3%
- -2.2 pts vs. March 2025
What this means
The median sale price has increased by 8% from last year to $407,450, though an opposite trend in price per square foot suggests this change more likely reflects the mix of homes that sold.
Homes are selling 3 days longer than last year, averaging 72 days on market, and sellers are receiving 99.3% of their original asking price.
The area is currently a seller's market with 2.1 months of supply. Active inventory is down 16% from last year to 76 homes for sale.
In this seller's market, buyers should be prepared to act quickly, while sellers can generally expect strong interest if priced correctly.
Common questions about the Elk River market
Is Elk River a buyer's or seller's market?
Elk River was a seller's market in March 2026, with 2.1 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 76 homes for sale.
How fast are homes selling in Elk River?
Homes that sold in March 2026 spent an average of 72 days on market, 3 days slower than a year earlier. Sellers received 99.3% of their original list price on average.
Are home prices going up in Elk River?
Yes. The median sale price rose 8.1% year over year to $407,450. Price per square foot moved the other way (from $193 to $189), which suggests the change mostly reflects 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 |
| October 2025 | $379,900 | 33 | 59 | 2.8 |
| November 2025 | $405,850 | 30 | 85 | 2.2 |
| December 2025 | $387,000 | 35 | 60 | 1.8 |
| January 2026 | $438,400 | 20 | 66 | 1.8 |
| February 2026 | $382,450 | 26 | 66 | 1.8 |
| March 2026 | $407,450 | 24 | 72 | 2.1 |
How Elk River compares with the Twin Cities region
In March 2026, the median sale price in Twin Cities (16-County Region) was $380,000, essentially unchanged 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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