From October through December of 2017, there were 19 homes sold, with a median sale price of $280,000 - a 4.1% decrease over the $292,000 median sale price for the same period of the previous year. There were 26 homes sold in Elko New Market in the fourth quarter of 2016.
The median sales tax in Elko New Market for 2017 was $3,515. In 2016, the median sales tax was $3,422. This marks an increase of 2.7%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.3%.
The following table compares Elko New Market to other Scott County cities in the fourth quarter of 2017:
| City | Oct. - Dec. 2017 Home Sales | Oct. - Dec. 2016 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2017 Median Sales Price | Oct. - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Elko New Market | 19 | 26 | -26.9% | $280,000 | $292,000 | -4.1% |
| Savage | 125 | 102 | 22.5% | $269,000 | $250,500 | 7.4% |
| Prior Lake | 92 | 104 | -11.5% | $267,700 | $299,950 | -10.8% |
| Jordan | 26 | 22 | 18.2% | $241,550 | $249,757.50 | -3.3% |
| Shakopee | 152 | 147 | 3.4% | $226,425 | $223,500 | 1.3% |
| New Prague | 19 | 20 | -5% | $222,900 | $244,500 | -8.8% |
| Belle Plaine | 41 | 41 | 0% | $221,500 | $191,900 | 15.4% |
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