Elgin, MN Foreclosures
Current Market Conditions in in Elgin, MN As of February 2026?
Over the past month, Elgin's real estate market has remained stable, with a slight increase in home values reflecting the ongoing demand. Listings have seen more interest, especially from families attracted to the area's schools and community. The average sale price has increased modestly, but inventory levels are healthy, allowing buyers varied options.
How much do homes sell for in Elgin, MN?
The average home price is currently $424,039.
What’s the average rental cost in Elgin, MN?
The average rental price in Elgin is $1,672.
What is the most expensive home in Elgin?
The most expensive home sold in Elgin had a price of $2,237,218.
What is currently the cheapest priced home in Elgin, MN?
The cheapest home for sale in Elgin is priced at $38,153.
Living in Elgin, MN
Elgin, Minnesota, is a small town that embodies the charm of rural America. With a welcoming community, excellent schools, and abundant outdoor activities, it provides a perfect blend of relaxation and engagement. Experience small-town living with the conveniences of nearby amenities.
Buyer vs Seller Market in Elgin, MN
The real estate market in Elgin, MN, has seen consistent growth over the past few years. Properties are generally affordable, making it an attractive option for first-time buyers and families seeking more space while maintaining a small-town quality of life. The average time on the market for homes in Elgin is relatively low compared to larger cities, indicating a steady demand.
There is a noticeable trend of families moving to Elgin from nearby urban areas, drawn by its affordability and quality of life. This influx has created a competitive market, especially for single-family homes, which are in high demand as more people seek homeownership outside of large metropolitan areas.
Home Value Estimator For Elgin, MN
There are currently 771 real estate properties
in Elgin, MN,
with a median automated valuation model (AVM) price
of $327,331.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Elgin, MN, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Elgin, MN,
is $424,039.00, with the most expensive house
in Elgin, MN, topping out
at $2,237,218.00 and the cheapest home
in Elgin, MN,
clocking in at $38,153.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Elgin, MN!
Rent Prices
In Elgin, MN
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Elgin, MN, is on
a rollercoaster ride. The
average rent price in Elgin, MN,
is $1,672.00. Indeed, when looking to rent in
Elgin, MN, you can expect to pay as little
as $780.00 or as much
as $3,340.00,
with the average rent median estimated to
be $1,650.00. The good news is that finding
an affordable and desirable property to rent in Elgin, MN
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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