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Foreclosure Homes in Ely, MN

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Ely, MN Foreclosures

How much do homes sell for in Ely, MN?
The average home price is currently $366,860.
In Ely, MN, how many homes are available?
There are currently 6 active home listings available in Ely.
What’s the average rental cost in Ely, MN?
The average rental price in Ely is $1,290.
What is the most expensive home in Ely?
The most expensive home sold in Ely had a price of $5,991,286.
What is currently the cheapest priced home in Ely, MN?
The cheapest home for sale in Ely is priced at $11,118.

Living in Ely, MN

Ely, MN, is a charming small town recognized for its breathtaking natural landscapes and robust outdoor recreational opportunities. The community, steeped in history, offers an inviting atmosphere with local arts and culture flourishing amidst its serene environment. From lakeside activities to winter sports, Ely provides a distinctive lifestyle for nature enthusiasts and families alike.

Current Market Conditions in Ely, MN

The real estate market in Ely is characterized by a steady demand, particularly for vacation homes and properties appealing to outdoor lovers. With the increasing popularity of recreational activities and tourism in the area, property values are experiencing steady growth, leading to significant investment opportunities for buyers.

Investors can expect a competitive market with a variety of listings, ranging from cozy cabins to more luxurious homes. The charm of the area and its natural attractions ensure a lasting interest, making Ely an appealing option for both year-round residents and seasonal visitors.

Home Value Estimator For Ely, MN

There are currently 4,584 real estate properties in Ely, MN, with a median automated valuation model (AVM) price of $269,200.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Ely, 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 Ely, MN, is $366,860.00, with the most expensive house in Ely, MN, topping out at $5,991,286.00 and the cheapest home in Ely, MN, clocking in at $11,118.00. In other words, there’s something for every potential homebuyer or savvy investor in Ely, MN!

Rent Prices In Ely, MN

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Ely, MN, is on a rollercoaster ride. The average rent price in Ely, MN, is $1,290.00. Indeed, when looking to rent in Ely, MN, you can expect to pay as little as $540.00 or as much as $2,620.00, with the average rent median estimated to be $1,260.00. The good news is that finding an affordable and desirable property to rent in Ely, 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.

Ely, MN Foreclosures


Market Trend for Ely, MN

Total Listings Available: 6

Market Values:

Home Prices from $11,118 to $5,991,286

Average Sales Price: $366,860

Rental Values:

Rental from $540 to $2,620

Average Rent Value: $1,290 / month

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