This bucolic small town setting looks pretty quiet. Those of us who grow up around here in the Twin Cities think of Elko New New Market MN as the quintessential small town. But in the last two weeks, 532 people were searching for this site by Googling the words “Elko MN mls.” I knew that Elko was growing, and was seeing a large amount of new construction business and population influx, but I was surprised to see that the “Elko MN mls” search on Google was one of the hottest areas of internet for the Twin Cities. Since I am in the business, I figured I should find out just how hot the Elko MN mls market really is.
Elko New Market will continue to be a great place to raise your kids.
Here’s whats going on:
Elko New Market is affordable! Right now, on the Elko MN mls, there are thirty nine single family homes for sale, most of which are new or newer. That’s quite a few for a town of this size. It’s still possible to find a brand new, three bedroom, two bath split entry home with a three car garage in the mid 200’s! Scott County is the fastest growing county in the state, and Elko lies in the southeastern corner of the county. Buyers are shopping price, and they are looking further south to find the best deals. You can also find brand new two story, three car garage homes with about 2200 finished square feet in the low three hundreds. Home builder include Brandl Anderson, Chase, and Middelsteadt Brothers.
For the 79 home currently for sale, the average asking price is $366,455, with an average of 2442 square feet finished. Keep in mind that this includes a sizeable number of new homes that have unfinished basements. The home selection is indeed newer here; the average year built for all single homes available is 2000.
Even on the higher end, there is more value here than anywhere else in the region. It is still possible to get an executive home with four or five thousand feet for under 800k. You might even find one with small acreage, a barn, and a five or six stall garage! In fact, prices out here rarely exceed 800k!
Elko New Market qualifies as an “X-burb” but buyers are attracted to the peaceful atmosphere, and the fact that the town enjoys quick access to Interstate 35. It’s just a few minutes up the interstate to get to major shopping, multiplex cinema, fine dining, and other major amenities. The community is served by two excellent school districts too. The community is served by Lakeville School District 194 and New Prague School District 721, so you can get your kids into a great school without paying the higher real estate prices found in suburbs that are a little closer in.
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