Comprehensive market data and analysis• Updated Oct 2026
12.0 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | 1 | 3 | 5 | 6 |
| 1-2 acres | - | - | 1 | 5 |
| 2-5 acres | 2 | 2 | 3 | 6 |
| 5-10 acres | - | 1 | 2 | 8 |
| 10-20 acres | 1 | 1 | 1 | 1 |
| 20-50 acres | - | - | - | 1 |
| 50-100 acres | - | - | - | - |
| 100+ acres | - | - | - | 1 |
| TOTAL | 4 | 7 | 12 | 28 |
Acreage buckets
The median price for land in Ely, Minnesota is currently $41K per acre. For a typical parcel, the median sale price is $93K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $37K while premium lots reached $334K.
Ely, Minnesota is currently a strong buyer's market with 12.0 months of supply. Buyers have more negotiating power and can take time to find the right property.
Ely, Minnesota currently has 12.0 months of inventory supply. This indicates a strong buyer's market. This balanced supply gives both buyers and sellers fair opportunities.
There are currently 28 active listings in Ely, Minnesota. 2 new listings have hit the market in the last 90 days. The median asking price is $152K.
Land in Ely, Minnesota typically sells within 161 days of listing. The median time on market is 75 days. Properties are moving slowly in the current strong buyer's market.
Over the past 12 months, Ely, Minnesota saw 28 properties sold, totaling $4.4M in sales volume. In just the last 3 months, 7 properties changed hands.
The current absorption rate in Ely, Minnesota is 8.3% (3-month basis), indicating moderate demand. The top-performing broker in this market is Bear Island Realty LLC.
Market statistics are compiled from multiple sources including LandyDandy listings, Zillow.com, Realtor.com, Redfin.com, county records, and MLS data. While we strive for accuracy, these figures are estimates and may not reflect 100% of market activity, and some transactions are reported late. The date at the top of the page is the report date. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
See land for sale and off-market property records in Ely on LandyDandy.
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