From January through December of 2017, there were 101 homes sold, with a median sale price of $280,000 - a 3.7% increase over the $270,000 median sale price for the previous year. There were 115 homes sold in Elko New Market in 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 2017:
| City | Jan. - Dec. 2017 Home Sales | Jan. - Dec. 2016 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2017 Median Sales Price | Jan. - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Elko New Market | 101 | 115 | -12.2% | $280,000 | $270,000 | 3.7% |
| Prior Lake | 561 | 637 | -11.9% | $275,000 | $276,295 | -0.5% |
| Savage | 532 | 580 | -8.3% | $267,150 | $255,000 | 4.8% |
| Jordan | 129 | 128 | 0.8% | $247,500 | $244,950 | 1% |
| Shakopee | 763 | 760 | 0.4% | $222,000 | $220,000 | 0.9% |
| New Prague | 106 | 96 | 10.4% | $211,750 | $212,200 | -0.2% |
| Belle Plaine | 212 | 195 | 8.7% | $208,900 | $190,500 | 9.7% |
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