From January through March of 2018, there were 16 homes sold, with a median sale price of $322,500 - a 25.9% increase over the $256,150 median sale price for the same period of the previous year. There were 16 homes sold in Elko New Market in the first quarter of 2017, as well.
The median sales tax in Elko New Market for 2018 was $3,790. In 2017, the median sales tax was $3,515. This marks an increase of 7.8%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.2%.
The following table compares Elko New Market to other Scott County cities in the first quarter of 2018:
| City | Jan. - Mar. 2018 Home Sales | Jan. - Mar. 2017 Home Sales | % change (Total Home Sales) | Jan. - Mar. 2018 Median Sales Price | Jan. - Mar. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Elko New Market | 16 | 16 | 0% | $322,500 | $256,150 | 25.9% |
| Prior Lake | 100 | 96 | 4.2% | $293,500 | $260,000 | 12.9% |
| Savage | 71 | 79 | -10.1% | $273,000 | $254,999 | 7.1% |
| Jordan | 18 | 20 | -10% | $263,149.50 | $221,000 | 19.1% |
| Shakopee | 110 | 121 | -9.1% | $251,575 | $215,000 | 17% |
| Belle Plaine | 19 | 44 | -56.8% | $242,000 | $192,400 | 25.8% |
| New Prague | 18 | 17 | 5.9% | $162,500 | $165,100 | -1.6% |
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