Why Live in Ely
Ely, MN, is a small community in Northeast Minnesota, surrounded by the expansive Superior National Forest and bordering Canada. Known for its natural beauty, Ely attracts outdoor enthusiasts year-round, with activities like canoeing, kayaking, hiking, and blueberry picking in the warmer months, and snowmobiling, snowshoeing, and cross-country skiing during the frigid winters. The town's main park, Whiteside Park, features a playground, open fields, and a bandstand for community events. Ely's housing includes small in-town bungalows and more secluded lakeside homes, with many properties dating back to the early and mid-1900s. The downtown area along Sheridan Street hosts a variety of small businesses, including winter outfitter shops and restaurants like Boathouse Brewpub & Restaurant and Britton’s Café. Ely Memorial High School, which shares a building with Washington Elementary, is highly rated and serves students in grades 6 through 12. The community gathers annually for the Blueberry Art Festival, celebrating local art and blueberry-infused foods. Ely is also home to the North American Bear Center and the International Wolf Center. For those needing to travel, Minnesota State Highway 1 provides access to Virginia, 50 miles away, and Duluth, approximately 100 miles away. The town is served by Ely Bloomenson Community Hospital, ensuring residents have access to medical care.
Frequently Asked Questions
What is the average home price in Ely, MN?
Homes for sale in Ely, MN have an average home price of $426,240.
How many homes have sold over the last 12 months in Ely, MN?
143 homes have sold in Ely, MN over the last 12 months.
What are the most popular zip codes in Ely, MN?
How much do you need to make to afford a house in Ely?
The median home price in Ely is $285,000. If you put a 20% down payment of $57,000 and had a 30-year fixed mortgage with an interest rate of 6.72%, your estimated principal and interest payment would be $1,470 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $63K a year to afford the median home price in Ely.
How are the schools in Ely, MN?
Home Trends in Ely, MN
On average, homes in Ely, MN sell after 65 days on the market compared to the national average of 50 days. The median sale price for homes in Ely, MN over the last 12 months is $242,500, up 14% from the median home sale price over the previous 12 months.
Median Sale Price
$242,500
Median Single Family Sale Price
$279,000
Average Price Per Sq Ft
$309
Number of Homes for Sale
48
Last 12 months Home Sales
143
Median List Price
$285,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
14%
