Photo: ArtisticAbode · CC BY-SA 3.039 homes sold in Ely in the last year, at a typical $366K
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Ely homes are listed.
Every place Ely homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Ely.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 79% of Ely’s sales, at a typical $368K
39 homes sold in the year to May 2026.
typical sale · 31 sold in 12 months
- Per square foot
- $156IA $158
- Days to sell
- 97
- Sold over asking
- 29%
- Listings with a price cut
- 25%
Condos: 8 sold, typical $346K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.6 times the 2016 price
39 sales in the last year, against 48 in 2015 and a low of 23 in 2023. The typical sale went from $223K in 2016 to $366K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $350K buys in Ely
Check a listing against what Ely homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Ely are more common than before the pandemic, but 38% fewer homes come up for sale
We read every month of Ely’s home sales since 2015 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 39 sales.
If you’re buying in Ely
- Shop in June. It brings about 5 new listings a month, close to the busiest month, with fewer bidding wars (22% over asking).
- Bid near asking. Buyers paid 99.5% of the list price on average; 28% paid over.
- You’ll usually have time. Only 21% of homes go under contract within two weeks; the typical one takes 105 days.
Spring brings both the most homes and the most bidding wars
May has the most new listings (about 5 a month), but April is the most competitive: 35% of April sales close over asking. June offers nearly as much choice with fewer homes bid up (22%). January has the least competition (17%).
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and hotter than Iowa
| Ely now | 2017–19 | 2021 peak | IA now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 28% | 18% | 60% | 22% |
| Gone within two weeksShare of homes under contract within 14 days | 21% | 3% | 7% | 36% |
| Listings with a price cutShare of homes for sale that cut their price | 21% | — | — | 27% |
| Price paid vs. askingAverage sale price ÷ list price | 99.5% | 98.8% | 101.8% | 97.7% |
| Days to sellMedian days from listing to contract | 105 | 129 | 77 | 45 |
8 homes for sale on a typical day
That’s 1.5 times the 2021 low (6), 38% fewer than in 2017–19 and well under 2024’s 19.
1 in 5 listings has cut its price
21% in the last year, against — in 2017–19 and 27% across Iowa.
Houses and condos, year by year
A house typically sold for $368K in the last year (31 sales), a condo for $346K (8).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Source: Redfin Data Center, city market tracker, January 2015 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Ely home costs about $2,362 a month
Price: Ely’s typical sale, last 12 months. Property tax at Ely’s 1.5% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Ely is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in May
The month with the most choice. December has the fewest, about 1.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $366K home, about $5,420 a year.
Taxes vs. neighborsSchools
The schools grade for Ely, from test results, graduation and how much students grow.
Schools in ElyCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Cedar Rapids, Fairfax and Lisbon sell for less a square foot
The busier markets within 25 miles of Ely, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Cedar Rapids | 2,146 | $204K | $131 | 29% | 25 |
| North Liberty | 450 | $330K | $167 | 20% | 51 |
| Solon | 78 | $432K | $185 | 24% | 71 |
| Mount Vernon | 60 | $339K | $163 | 27% | 56 |
| Fairfax | 45 | $355K | $150 | 33% | 52 |
| Ely | 39 | $366K | $166 | 28% | 105 |
| Lisbon | 27 | $303K | $149 | 33% | 40 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Ely, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Ely. People who follow the town see it, and so do people comparing Ely with their own town. No commission, no listing fee.
Questions about buying a home in Ely
What do homes sell for in Ely, IA?
39 homes sold in the year to May 2026 at a typical $366K, $166 a square foot.
Is Ely a buyer’s or seller’s market?
A seller’s market: 1 homes were for sale in May 2026 and 11 sold, about 0.1 months of supply. Buyers paid 99.5% of asking on average, and 21% of listings cut their price.
When is the best time to buy in Ely?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Ely?
About 1.5% of a home’s value a year. On a $366K home that’s near $5,420.
Where can I see homes for sale in Ely?
Zillow, Redfin, Realtor.com and Homes.com all carry Ely’s MLS listings; the search links above open each one filtered to Ely.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).