$4,453 Closing Credit*
$375,000
1,884 SqFt
5 Beds
•1 Full Bath
Jennifer Burhans, Listing Office: COLDWELL BANKER HEDGES CORRIDOR
Is Ely, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Ely has remained a Seller's Market.
Key Takeaway
Ely is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ely, IA
How much do homes in Ely, IA cost?
Median Sold Price
$351,000
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$8,950(-2.5%)
Key Takeaway
Homes in Ely have sold for 2.5% less than they did a year ago.
Summary: The median home sold price in Ely was $351,000 in October 2024, down 2.5% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $364.9K | $169K | -53.7% |
| 3 Bedrooms | $321.2K | $298.5K | -7.1% |
| 4 Bedrooms | $377.2K | $360.5K | -4.4% |
| 5+ Bedrooms | $438K | $435K | -0.7% |
Summary: Ely housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 53.7%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes decreased by 0.7%.
Median Sold Price Compared To Nearby Cities
| Ely | $359.9K | $351K | -2.5% |
| Putnam Township | $359.9K | $343K | -4.7% |
Housing Supply in Ely, IA
How many homes are available in Ely, IA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 24 | +14.3% |
Summary: The Ely real estate market had 24 homes for sale in October 2024, a 14.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Ely housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Ely, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Ely in October 2024, up by 100.0% month-over-month. Of the 8 sold homes, 88% were sold under asking, 0% were sold at asking, and 13% were sold over asking.
Days on Market for Ely, IA
How long does it take to sell a home in Ely, IA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 26 Days | +1.0% |
Summary: Homes in Ely had an average of 26 days on market in Oct 2024, up by 1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ely are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in Ely; 63% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided 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.