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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ely is a 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, NV

How much do homes in Ely, NV cost?

Median Sold Price

$235,000

$167/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$25,000(+11.9%)

Key Takeaway

Homes in Ely have sold for 11.9% more than they did a year ago.

Summary: The median home sold price in Ely was $235,000 in October 2024, up 11.9% from last year, and the median price per square foot was $167.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $86K$95K
+10.5%
2 $196K$195.7K
-0.1%
3 $227.2K$253.7K
+11.7%
4 $276K$299K
+8.3%
5+ $289.5K$475K
+64.1%

Summary: Ely housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 64.1%.

Housing Supply in Ely, NV

How many homes are available in Ely, NV?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
25250.0%

Summary: The Ely real estate market had 25 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 75
-28.6%
3 1111
0.0%
4 45
+25.0%
5+ 23
+50.0%

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 decreased by 28.6%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
58+60.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

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 60.0% month-over-month. Of the 8 sold homes, 88% were sold under asking, 13% were sold at asking, and 0% were sold over asking.

Days on Market for Ely, NV

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

Average Sale Time

Oct 2023Oct 2024CHANGE
81 Days46 Days-42.7%

Summary: Homes in Ely had an average of 46 days on market in Oct 2024, down by 42.7% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

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, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Ely, NV

Nearby Markets to Ely, NV