Active Listings
42
⇩ 4.5% vs 44 last year
Data as of March 2026. Source: Realtor.com.
The ELY, MN real estate market (55731) currently shows 42 active listings, with 5 pending sales. Homes are averaging 153 days on the market before going under contract.
Inventory has tightened compared to last year, with 2 fewer active listings — creating more competition among buyers.
Homes are taking longer to sell, averaging 153 days on market compared to 137 days last year.
The median listing price has risen 27.8% year-over-year, from $330,000 to $421,875.
Whether you are buying or selling in ELY, MN, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.
Population: 5,297 · Density: 1.3/mi² · Median household income: $61,394
Typical home value: $203,109 · Homeownership: 75.2%
| Zip | City / State | Distance | Listings | Market Value | Median $ | Average $ |
|---|---|---|---|---|---|---|
| 55731 | Ely, MN 55731 | 0.0 mi | 36 | $20,956,104 | $375,500 | $582,114 |
| 55782 | Soudan, MN 55782 | 24.1 mi | 3 | $291,000 | $97,000 | $97,000 |
| 55732 | Embarrass, MN 55732 | 30.7 mi | 2 | $893,900 | $446,950 | $446,950 |
| 55750 | Hoyt Lakes, MN 55750 | 33.5 mi | 7 | $1,968,547 | $168,050 | $281,221 |
| 55708 | Biwabik, MN 55708 | 42.0 mi | 4 | $519,768 | $125,475 | $129,942 |
| 55792 | Virginia, MN 55792 | 43.4 mi | 33 | $5,323,593 | $133,500 | $161,321 |
| 55725 | Crane Lake, MN 55725 | 45.2 mi | 3 | $2,063,001 | $369,000 | $687,667 |
| 55614 | Silver Bay, MN 55614 | 46.1 mi | 26 | $7,065,318 | $171,750 | $271,743 |
| 55710 | Britt, MN 55710 | 50.0 mi | 2 | $875,000 | $437,500 | $437,500 |
| 55612 | Lutsen, MN 55612 | 50.6 mi | 10 | $4,811,590 | $331,175 | $481,159 |
| 55616 | Two Harbors, MN 55616 | 51.1 mi | 42 | $12,666,024 | $242,475 | $301,572 |
| 55768 | Mountain Iron, MN 55768 | 54.1 mi | 3 | $802,500 | $275,500 | $267,500 |
| 55604 | Grand Marais, MN 55604 | 55.1 mi | 10 | $7,351,070 | $618,200 | $735,107 |
As of March 2026, there are 42 active listings in ELY, MN (zip code 55731), compared to 44 the prior year.
The median listing price in ELY, MN 55731 is $421,875 as of March 2026, a 27.8% increase from $330,000 the prior year.
Homes in ELY, MN 55731 spend an average of 153 days on the market before going under contract, compared to 137 days the prior year.
Based on current inventory and days-on-market data as of March 2026, ELY, MN 55731 is currently a Balanced Market. Inventory has tightened compared to last year, with 2 fewer active listings — creating more competition among buyers. Homes are taking longer to sell, averaging 153 days on market compared to 137 days last year.
With SELL123.com's maximum 3% commission, sellers in ELY, MN 55731 save an estimated $8,438 compared to a typical 5% commission on the median listing price of $421,875. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.