Is Ely, IA 52227 a buyer’s or seller’s market?
Ely is a seller’s market. With about 2.8 months of supply and 11% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 76% of U.S. ZIP codes, and #19 of 155 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending July 31, 2026. See the breakdown
The Ely housing market right now
In the three months ending August 31, 2026, 11% of homes in Ely, IA 52227 sold above their list price, the typical home went under contract in 15 days and there were 2.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 9 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 17%, homes sold faster (59 days then) and the median sale price rose 3% to $392,830. Overall, Ely is more competitive than a year ago, so tougher for buyers.
Within Linn County, homes here sell more slowly than in 58% of the county’s ZIP codes, and sell less often over asking than in 95%.
Nearby, buyers who want less competition could look at Toddville 52341 (0% sold over asking), while Coggon 52218 (75% sold over asking) and Central City 52214 (67% sold over asking) are even more competitive.
Run the numbers for 52227
Nearby markets
Alburnett 52202Seller’s market $120 /sq ftCedar Rapids 52401Seller’s market $198 /sq ftCedar Rapids 52402Seller’s market $133 /sq ftCedar Rapids 52403Seller’s market $128 /sq ft Browse all markets →Towns like Ely nearby
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Questions about Ely real estate
Is Ely a buyer’s or seller’s market?
A seller’s market: there were 2.8 months of supply in Ely, IA 52227 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Ely?
The typical home went under contract in 15 days in the latest three months.
Do homes in Ely sell over asking?
11% of homes sold above their original list price, and the typical sale closed at 99.3% of the list price.
What are property taxes in Ely?
About 1.66% of a home’s value a year in Linn County, or roughly $6,640 on a $400,000 home.
What is the median home price in Ely?
The median sale price was $392,830 in the three months ending August 31, 2026, about $196 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology