Ely, MN Housing Market

Homes for sale

The Ely housing market is somewhat competitive. The median sale price of a home in Ely was $198K last month, up 36.6% since last year. The median sale price per square foot in Ely is $126, up 5.9% since last year.

Trends
Demand
Migration
Schools
Climate

Ely Housing Market Trends

What is the housing market like in Ely today?

$198K

Sale Price

+36.6%
since last year

$126

Sale $/Sq. Ft.

+5.9%
since last year

Under List Price

6.9%

Days on Market

Down Payment

—

Total Homes Sold

To compare other locations to the Ely and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Ely add value to a home.

How hot is the Ely housing market?

Ely is somewhat competitive. Homes sell in 41 days.

100

Somewhat Competitive

Some homes get multiple offers.
The average homes sell for about 7% below list price and go pending in around 41 days.
Hot homes
can sell for about 1% below list price and go pending in around 28 days.

Compare With Nearby Cities

Babbitt

100

Not Very Competitive

Multiple offers are rare.
The average homes sell for about 5% below list price and go pending in around 61 days.
Hot homes
can sell for around list price and go pending in around 17 days.

See more nearby cities and neighborhoods

Ely Migration & Relocation Trends

No data on migration and relocation available in this area right now

Learn about migration trends in nearby cities

View houses in Ely that sold recently

Recently sold homes

SOLD DEC 15, 2025
$34,000 Last Sold Price
—beds
—baths
—sq ft
TBD Highway 169, Ely, MN 55731
List Price
$39,000
Sale to List
13% under list
Days on Market
109 days
TBD Highway 169, Ely, MN 55731
SOLD DEC 15, 2025
$51,000 Last Sold Price
—beds
—baths
—sq ft
TBD Moose Junction Trl, Morse Township, MN 55731
List Price
$65,000
Sale to List
22% under list
Days on Market
52 days
TBD Moose Junction Trl, Morse Township, MN 55731
SOLD DEC 12, 2025
$209,000 Last Sold Price
2 beds
2 baths
1,287 sq ft
137 E Boundary St, Ely, MN 55731
List Price
$209,000
Sale to List
0% over list
Days on Market
79 days
137 E Boundary St, Ely, MN 55731
SOLD DEC 12, 2025
$120,000 Last Sold Price
2 beds
1 bath
—sq ft
1029 E White St, Ely, MN 55731
List Price
$125,000
Sale to List
4% under list
Days on Market
70 days
1029 E White St, Ely, MN 55731
SOLD DEC 8, 2025
$419,000 Last Sold Price
3 beds
2 baths
2,281 sq ft
386 Garden Lake Rd, Ely, MN 55731
List Price
$419,000
Sale to List
0% over list
Days on Market
32 days
386 Garden Lake Rd, Ely, MN 55731
SOLD DEC 5, 2025
$135,000 Last Sold Price
1 bed
—baths
480 sq ft
2151 Echo Trl, Ely, MN 55731
List Price
$144,000
Sale to List
6% under list
Days on Market
108 days
2151 Echo Trl, Ely, MN 55731
SOLD DEC 5, 2025
$52,900 Last Sold Price
—beds
—baths
—sq ft
TBD Lot 5 Truman Ln, Eagles Nest Township, MN 55731
List Price
$52,900
Sale to List
0% over list
Days on Market
926 days
TBD Lot 5 Truman Ln, Eagles Nest Township, MN 55731
SOLD DEC 5, 2025
$290,000 Last Sold Price
—beds
—baths
—sq ft
3732 Highway 169, Ely, MN 55731
List Price
$299,000
Sale to List
3% under list
Days on Market
151 days
3732 Highway 169, Ely, MN 55731
See all recently sold homes in Ely.
See listings

Schools in Ely

Learn about schools in the Ely area

Elementary
Middle
High

GreatSchools Rating

5/10

Washington Elementary School

Public • PreK-5

225

Students

8 reviews

School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.

Climate's impact on Ely housing

Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in Ely.

Provided by First Street Foundation

More real estate resources for Ely

New Listings in Ely

Nearby City Housing Markets

Zip Code Housing Markets

55731 Housing Market

Nearby City Listings

Zip Code Listings

55731 Real Estate

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