From January through December of 2018, there were 109 homes sold, with a median sale price of $320,000 - a 14.3% increase over the $280,000 median sale price for the previous year. There were 101 homes sold in Elko New Market in 2017.
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 2018:
| City | Jan. - Dec. 2018 Home Sales | Jan. - Dec. 2017 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2018 Median Sales Price | Jan. - Dec. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Elko New Market | 109 | 101 | 7.9% | $320,000 | $280,000 | 14.3% |
| Prior Lake | 601 | 561 | 7.1% | $315,000 | $275,000 | 14.5% |
| Savage | 551 | 532 | 3.6% | $283,000 | $267,150 | 5.9% |
| Jordan | 148 | 129 | 14.7% | $260,517.50 | $247,500 | 5.3% |
| Shakopee | 821 | 763 | 7.6% | $240,000 | $222,000 | 8.1% |
| Belle Plaine | 173 | 212 | -18.4% | $234,900 | $208,900 | 12.4% |
| New Prague | 118 | 106 | 11.3% | $207,500 | $211,750 | -2% |
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