55731, MN Housing Market

The 55731 housing market is not very competitive. The median sale price of a home in 55731 was $210K last month, down 17.6% since last year. The median sale price per square foot in 55731 is $201, down 19.6% since last year.

Trends
Demand
Schools
Climate

55731 Housing Market Trends

What is the housing market like in 55731 today?

$210K

Sale Price

-17.6%
since last year

$201

Sale $/Sq. Ft.

-19.6%
since last year

Under List Price

6.3%

Days on Market

Down Payment

—

Total Homes Sold

To compare other locations to the 55731 and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Minnesota add value to a home.

How hot is the 55731 housing market?

55731 is not very competitive. Homes sell in 48 days.

100

Not Very Competitive

Multiple offers are rare.
The average homes sell for about 6% below list price and go pending in around 48 days.
Hot homes
can sell for around list price and go pending in around 29 days.

Compare With Nearby Zip codes

55604

100

Somewhat Competitive

Some homes get multiple offers.
The average homes sell for about 2% below list price and go pending in around 38 days.
Hot homes
can sell for about 1% above list price and go pending in around 15 days.

55771

100

Not Very Competitive

Multiple offers are rare.
The average homes sell for about 4% below list price and go pending in around 87 days.
Hot homes
can sell for around list price and go pending in around 15 days.

See more nearby cities and neighborhoods

View houses in 55731 that sold recently

Recently sold homes

SOLD NOV 25, 2025
$51,000 Last Sold Price
—beds
—baths
—sq ft
24xx E Pioneer Rd, MN 55804
List Price
$74,900
Sale to List
32% under list
Days on Market
229 days
24xx E Pioneer Rd, MN 55804
SOLD NOV 21, 2025
$875,000 Last Sold Price
3 beds
3 baths
2,187 sq ft
105 Klondike Dr, Ely, MN 55731
List Price
$950,000
Sale to List
8% under list
Days on Market
135 days
105 Klondike Dr, Ely, MN 55731
SOLD NOV 17, 2025
$364,000 Last Sold Price
3 beds
2 baths
—sq ft
236 E Ahola Rd, Ely, MN 55731
List Price
$369,000
Sale to List
1% under list
Days on Market
53 days
236 E Ahola Rd, Ely, MN 55731
SOLD NOV 14, 2025
$420,000 Last Sold Price
1 bed
1 bath
1,440 sq ft
2137 Deer Ridge Rd, Ely, MN 55731
List Price
$449,900
Sale to List
7% under list
Days on Market
163 days
2137 Deer Ridge Rd, Ely, MN 55731
SOLD NOV 13, 2025
$129,000 Last Sold Price
1 bed
—baths
280 sq ft
4194 First Lake Rd, Ely, MN 55731
List Price
$129,000
Sale to List
0% over list
Days on Market
149 days
4194 First Lake Rd, Ely, MN 55731
SOLD NOV 12, 2025
$198,000 Last Sold Price
3 beds
1.75 baths
1,680 sq ft
36 Beacon Hill Rd, Ely, MN 55731
List Price
$205,000
Sale to List
3% under list
Days on Market
19 days
36 Beacon Hill Rd, Ely, MN 55731
SOLD NOV 6, 2025
$50,000
2 beds
1 bath
916 sq ft
2326 Passi Rd, Ely, MN 55731
List Price
—
Sale to List
—
Days on Market
—
2326 Passi Rd, Ely, MN 55731
SOLD NOV 6, 2025
$316,667
2 beds
—baths
840 sq ft
1621 Fernberg Rd, Ely, MN 55731
List Price
—
Sale to List
—
Days on Market
—
1621 Fernberg Rd, Ely, MN 55731
See all recently sold homes in 55731.
See listings

Schools in 55731

Learn about schools in the 55731 area

Elementary
Middle
High

GreatSchools Rating

5/10 Washington Elementary School Public • PreK-5	225 Students	8 reviews
5/10 Tower-Soudan Elementary School Public • PreK-6	99 Students	N/A

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 55731 housing

Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in 55731.

Heat Factor - Minimal

100% of properties are at minimal risk of heat over the next 30 years

Provided by First Street Foundation

More real estate resources for 55731

New Listings in 55731

County Housing Markets

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