Ely Housing Market Report March 2025•Linn County, Iowa

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Housing Prices in Ely, IA

How much do homes in Ely, IA cost?

Housing Market Conditions

Is Ely, IA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Ely is a Seller's Market

Difference Since February 2025

Last month, Ely was a Neutral Market.

Insight

Ely is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$369,900$231/SqFt
+$18,200
+5.2%

Based on all homes sold in March 2025

Insight

Homes in Ely have sold for 5.2% more than they did a month ago.

Summary: The median home sold price in Ely was $369,900 in March 2025, up 5.2% from last month, and the median price per square foot was $231.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange MoM
Putnam Township
+5.2%
Ely
+5.2%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2025Mar 2025Change MoM
1--
N/A
2-$355K
N/A
3--
N/A
4$351.7K$632.5K
+79.8%
5-$369.9K
N/A

Summary: Ely housing price by bedroom type for March 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes did not change. The home price for 4 bedroom homes increased by +79.8%. The home price for 5 bedroom homes did not change.

How does Ely, IA compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Ely, IA

Housing supply in Ely, IA

How many homes are available in Ely, IA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
13Last MonthMar 2025
112 months agoFeb 2025
+18.2 %
Change MoMFeb – Mar

Summary: The Ely real estate market had 13 homes for sale in Mar 2025, a 18.2 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
3Last MonthMar 2025
22 months agoFeb 2025
+50.0 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
110
-100.0%
223
+50.0%
345
+25.0%
432
-33.3%
513
+200.0%

Summary: Ely housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -100.0%. The inventory for 2 bedroom homes increased by +50.0%. The inventory for 3 bedroom homes increased by +25.0%. The inventory for 4 bedroom homes decreased by -33.3%. The inventory for 5 bedroom homes increased by +200.0%.

Asking Price vs. Sold Price

How much do homes in Ely, IA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price1 Home

Under Asking Price1 Home

Insight

If you're buying a home in Ely, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Ely in March 2025, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and and 33% were sold over asking.

Days on Market for Ely, IA

How long does it take to sell a home in Ely, IA?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days1 Home

Over 90 Days2 Homes

Insight

Most homes in Ely are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2025, 3 homes were sold in Ely; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
84 DaysLast MonthMar 2025
49 Days1 month agoFeb 2025
+71.4 %
Change MoMFeb – Mar

Summary: Homes in Ely had an average listing age of 84 days in Mar 2025, up by 71.4% compared to the previous month.

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Newest Listings in Ely, IA

What homes are available in Ely, IA?

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Nearby markets aren't available for Ely, IA

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MLS Disclaimers and Copyright

Based on information from Cedar Rapids MLS, for the period 02/01/2025 - 04/01/2025

IDXProvided Courtesy Of Cedar Rapids Area Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Is Believed To Be Accurate But Not Guaranteed.
Copyright 2025 Cedar Rapids Area Association of REALTORS®. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/4/2025, 4:20:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.