55731, MN Housing Market
The 55731 housing market is not very competitive. The median sale price of a home in 55731 was $265K over the last 3 months, down 3.7% since the same period last year. The median sale price per square foot in 55731 is $242, down 21.6% since last year.
55731 Housing Market Trends
Over the three months ending June 2026, 55731 home prices were down 3.7% compared to the same period last year, selling for a median price of $265K. On average, homes in 55731 sell after 53 days on the market compared to 107 days last year. There were 30 homes sold in June this year, up from 20 last year.

How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the 55731 housing market?
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Multiple offers are rare.
- The average homes sell for about 6% below list price and go pending in around 51 days.
- Hot homescan sell for about 2% below list price and go pending in around 35 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 9 months
- Some homes get multiple offers.
- The average homes sell for about 3% below list price and go pending in around 49 days.
- Hot homescan sell for around list price and go pending in around 19 days.
View houses in 55731 that sold recently
Recently sold homes
- $69,500 Last Sold Price—beds—baths—sq ftTBD Black Bear Trl, Fall Lake Township, MN 55731List Price$69,500Sale to List0% over listDays on Market22 daysTBD Black Bear Trl, Fall Lake Township, MN 55731
- $780,000 Last Sold Price3 beds2 baths1,916 sq ft1675 Bradach Rd, Ely, MN 55731List Price$795,000Sale to List2% under listDays on Market69 days1675 Bradach Rd, Ely, MN 55731
- $290,000 Last Sold Price2 beds—baths—sq ft2050 Shipman, Ely, MN 55731List Price$329,000Sale to List12% under listDays on Market135 days2050 Shipman, Ely, MN 55731
- $275,000 Last Sold Price3 beds1 bath1,882 sq ft118 E James St, Ely, MN 55731List Price$299,000Sale to List8% under listDays on Market106 days118 E James St, Ely, MN 55731
- $399,000 Last Sold Price2 beds1 bath847 sq ft14575 Jackpine Trl, Ely, MN 55731List Price$399,000Sale to List0% over listDays on Market59 days14575 Jackpine Trl, Ely, MN 55731
- $519,000 Last Sold Price3 beds2 baths1,320 sq ft413 Sunset Rd, Ely, MN 55731List Price$519,000Sale to List0% over listDays on Market29 days413 Sunset Rd, Ely, MN 55731
- $130,000 Last Sold Price3 beds1 bath—sq ft1530 N 20th Ave E, Ely, MN 55731List Price$155,000Sale to List16% under listDays on Market142 days1530 N 20th Ave E, Ely, MN 55731
- $249,000 Last Sold Price3 beds1.5 baths1,480 sq ft1419 E Chapman St, Ely, MN 55731List Price$249,000Sale to List0% over listDays on Market55 days1419 E Chapman St, Ely, MN 55731
See all recently sold homes in 55731.
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Schools in 55731
- Elementary
- Middle
- High
GreatSchools Rating
6/10 Washington Elementary School Public • PreK-5 | 201 Students | 8 reviews |
5/10 Tower-Soudan Elementary School Public • PreK-6 | 95 Students | N/A |
Climate's impact on 55731 housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in 55731.
Flood Factor - Minor
Flood Factor

Fire Factor - Moderate
Fire Factor

Wind Factor - Minimal
Wind Factor

Heat Factor - Minimal
Heat Factor

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