The median home value in Ely, MN is $193,000.
This is
lower than
the county median home value of $197,400.
The national median home value is $338,100.
The average price of homes sold in Ely, MN is $193,000.
Approximately 50.27% of Ely homes are owned,
compared to 31.24% rented, while
18.49% are vacant.
Ely real estate listings include condos, townhomes, and single family homes for sale.
Commercial properties are also available.
If you see a property you’re interested in, contact a Ely real estate agent to arrange a tour today!
Courtesy: Engel & Volkers Lake Minnetonka
612-338-3836
Set on a secluded 27.5-acre wooded peninsula overlooking the pristine Shagawa Lake, this extraordinary property redefines lakeside living with an ambiance of serene sophistication. With 2,800 feet of southwest-facing shoreline and surrounded by towering pines, this retreat provides an unparalleled sense of privacy and natural beauty, while remaining just five miles from the charming town of Ely. The centerpiece of this estate is a meticulously designed three-bedroom, two-bathroom year-round residence that embodies timeless craftsmanship and modern comfort. Thoughtfully curated with premium materials and an emphasis on harmonious flow, the home offers a seamless blend of functionality and artistry. The main level greets you with an expansive living room with vaulted ceilings, a propane fireplace, and floor-to-ceiling windows that frame breathtaking lake views, allowing natural light to cascade through the space. Two skylights amplify the sense of openness, while rich wood accents add warmth and texture. The kitchen is an entertainer's dream, features granite countertops, a striking tile backsplash, and a central island with seating for two. Sliding patio doors lead to a generous lakeside deck, perfect for alfresco dining and sunset gatherings. Adjacent, the dining room boasts oak flooring, a bay window capturing both southern and eastern views of the lake, and an inviting openness that enhances the flow between spaces. The upper level houses three well-appointed bedrooms with oak floors, ceiling fans, and picturesque lake vistas. The primary bedroom has access to a secluded deck overlooking the water. On the lower level, a versatile open-concept space offers a cozy family room with custom built-ins and a freestanding propane fireplace—ideal for movie nights or quiet evenings. The property’s outdoor features are equally impressive. A large wraparound deck invites you to savor panoramic lake views while the expansive majestic pine forest offers endless opportunities for exploration. The shoreline transitions gracefully between sandy, level beaches and dramatic rock ridges, creating a landscape as diverse as it is beautiful. For the hobbyist or collector, the 36x40 three-stall garage with steel siding provides ample storage and workspace. Modern amenities, including a drilled well, inspected septic system, and steel siding, ensure peace of mind. Positioned just minutes from Ely, this home balances the tranquility of lakeside living with easy access to the area’s vibrant cultural scene, dining, and outdoor recreation. Shagawa Lake offers year-round enjoyment, from boating and fishing in the summer to snowshoeing and ice fishing in the winter, ensuring every season is memorable. This property is more than a home; it’s an invitation to an enriched lifestyle defined by tranquility and connection to nature. Whether you seek a private retreat, a space to host unforgettable gatherings, or a legacy property to cherish for generations, this rare offering presents an exceptional canvas for your vision.
Courtesy: Keller Williams Classic Realty NW
763-463-7500
Introducing 401 E Sheridan St, a prime retail and residential opportunity in the heart of Ely, MN. This historic 6,486 SF free-standing building offers a versatile layout with a main-level retail space currently operating as a liquor store, a 1,666 SF basement used for storage, and a spacious second-level apartment featuring four bedrooms, two bathrooms, a private deck, and a detached garage. Built in 1913, this character-filled property exudes timeless appeal while being ideally situated in a C-1 zoned area, allowing for a variety of potential uses, including retail, restaurant, lounge/bar, grocery, or office space. Nestled in the scenic Northwoods, Ely is known for its strong sense of community, outdoor recreation, and cultural attractions, with the Boundary Waters Canoe Area, International Wolf Center, and Ely Arts & Heritage Center just minutes away. With its historic charm, prime location, and exceptional redevelopment potential, this property presents an exciting opportunity to reimagine a piece of Elyâ??s history for future generations.
Courtesy: Canoe Capital Realty, LLC
218-365-8689
Ready to build lot located at beautiful Deer Ridge Resort on Garden Lake resort part of the White Iron Chain of Lakes. This lot has septic as well as power and water pulled to the lot. Lot does have partial lake view (see pics). This is a residential listing with no owner usage restrictions once cabin/home has been built. Rental and property management is possible with the property manager The Davis Group Inc. Please contact Chad @ 218-929-7741 for additional details. A like commercial listing has also been created. Please reference MLS #6117497
Courtesy: Canoe Capital Realty, LLC
218-365-8689
Ready to build lot located at beautiful Deer Ridge Resort on Garden Lake resort part of the White Iron Chain of Lakes. This lot has septic as well as power and water pulled to the lot. Lot does have partial lake view (see pics). This is a commercial listing with owner usage restrictions once cabin/home has been built. Rental and property management provided by property manager The Davis Group Inc. Please contact Chad @ 218-929-7741 for additional details. A like residential listing has also been created. Please reference MLS #6117498
Courtesy: Z' Up North Realty
218-827-2288
Charming 4-Bedroom 2 acre country retreat with endless potential Just 10 miles outside Ely and perfectly nestled between Tower, Lake Vermilion, and Eagles Nest Lakes, this 4-bedroom home on 2 picturesque acres is a DIY renovatorâ??s dream. Surrounded by woodland beauty and mature pines, this diamond-in-the-rough blends peaceful nature with spacious living. This property is awaiting your personal touch to bring out its full character. With 2 acres of land, this is your chance to create the private and peaceful retreat youâ??ve always dreamed of, all while staying close to key amenities. Expansive Living Space: The main level boasts a generous floor plan, including a 625 sq ft kitchen/living area perfect for gathering. A 13x19 dining room with French doors has its own private entrance, making it ideal for an at-home business or office. Sizable 8.6x6 butlerâ??s pantry is located just off the kitchen, with main-floor laundry for added convenience. Upstairs, youâ??ll find a studio-type apartment ready to be finished to your visionâ??perfect for guests, rental income, or extra family space. Enjoy your morning coffee on one of the multiple decks, soaking in serene woodland views and native wildlife.
Courtesy: Z' Up North Realty
218-827-2288
Are you ready to make your entrepreneurial dreams come true? Look no further â?? Ely's Sir G's Italian Restaurant is the perfect opportunity! With over 2059 sq ft of restaurant and kitchen space, situated on the busiest street Sheridan St., this could be the ideal location for your dream restaurant. Sir G's is a long-standing tradition in Ely. It has been around for years, offering an iconic Italian cuisine with a proven cash flow that still has even more potential. Guests can enjoy one-of-a-kind hand painted artwork depicting Tuscan fields and beautiful Italian scenery while waiting for their delicious meal or handmade pizzas. And with daily drive-by traffic estimated at 5800 people, customers will never be lacking! Not only does this sale include the real estate and building but it also includes all equipment and recipes needed to take over this amazing business opportunity. So, what are you waiting for? Take this opportunity and make your dreams come true with Ely's Sir G's Italian Restaurant! You don't want to miss out on this incredible chance to own a piece of history.
Courtesy: Canoe Capital Realty, LLC
218-365-8689
Charming 3-bedroom home on quiet street. Dine-in Kitchen with breakfast bar, large windows throughout, and a beautiful and unique gas fireplace in livingroom. Large basement with lots of bonus space and additional bathroom and the 2-stall detached garage includes a large attached 3-season porch off the back! This home is just waiting on your decorative touch.
Courtesy: z'Up North Realty, Inc.
218-827-2288
Step into the warmth of this stunning log home, perfectly designed for those seeking a peaceful escape. Log home tucked under the White Pines on Everett Lake outside of Ely MN. The open-floor concept blends the kitchen, dining, and living areas beautifully, making it the heart of the home. Picture yourself enjoying a morning coffee at the kitchen breakfast bar or cozying up by the wood-burning fireplace after a day outside. The home boasts in-floor heating, adding comfort to every season. A loft bedroom provides a private retreat, while two spacious main-floor bedrooms and a main-floor laundry offer convenience and practicality. Outdoor Paradise with waterfront access with 331 feet of shoreline, you'll have endless opportunities for kayaking, fishing, or simply soaking up the views. Spread out on your own peaceful 3+ acre lot surrounded by nature. Two-Car Garage includes a finished loft space perfect for an artist's studio, a home office, exercise room, or play area. This property is ideal for nature lovers and those seeking tranquility right outside their front door. Whether you're enjoying serene lake views, hosting friends for a cozy weekend, or creating your dream studio in the loft area the garage, the possibilities are endless.
Courtesy: Bear Island Realty LLC
218-365-2800
Spacious 3-bedroom, 2-bath home on a beautiful corner lot just steps from Whiteside Park in Ely, MN. The main floor layout is ideal and features a large sunny living/dining room, eat-in kitchen, mud room with storage, main floor laundry, and a nicely sized bedroom with attached ¾ bath. The second floor features two more bedrooms and a full bath. Updates include new paint, all new flooring, new fixtures, new insulated front door and much more! Large basement with loads of room for storage. Oversized 2-stall garage with large workshop area.
Courtesy: GRAND PROPERTIES REAL ESTATE
218-326-4477
This 2 story 4 bedroom 2 bath home will blow you away! The woodwork in this house will enchant you and remind you every morning that you are in the beautiful Ely, MN. This property has been gorgeously redone top to bottom featuring new windows, remodeled main floor bath, remodeled upstairs full bath, main floor laundry, refinished hardwood floors, fresh exterior paint, new electrical service, fantastic butcher block countertops and more! Step outside into the amazingly landscaped yard with a little nook in the front of the house shaded by beautiful cedar trees to relax and keep cool hot summer days and the big deck in back has been redone to accommodate guests and grilling all year long! The mature apple and plum trees and fruit bearing bushes are a great touch for a 'homestead' style of living. Keep the lawn and garden tools in the big shed and save the one stall garage with a new door for your vehicle. This is a must see gem on a beautiful street!
Courtesy: Wildwoods Land Company
218-365-3665
The building site on this +-2.4 acre parcel sit high above the tree tops overlooking most of Fall Lake. Imagine how spectacular the Northern Lights views would be from your front deck. Getting down to the +-315' of rocky shoreline is steep but walkable with some trail improvement through the beautiful Cedar and Pine trees. This parcel would be easy to develop as it is mostly flat with short distances for power and driveway.
Courtesy: Wildwoods Land Company
218-365-3665
+-3.3 acre lot on popular BWCA lake just 5 minutes from Ely. Located on the south shore of Fall Lake, this lot has +-275' of rocky shoreline with a small sandy cove. The building site is slightly elevated above a large flat area along the shoreline that would be great for lakeside recreation. Amazing lake views to go along with the sound of the Kawishiwi Fall off in the distance. The parcel is surveyed, has power and good access.
Courtesy: Wildwoods Land Company
218-365-3665
A truly one of a kind property located at the mouth of the Kawishiwi Falls. Imagine sitting on your private dock with expansive lake views towards the BWCA in addition to the picturesque falls. Listen to the sounds of the water as it roars over the dam and drops into Fall Lake just down the shoreline. The current slows down by the time it reaches you and creates a natural sand beach with a ledgerock backdrop. +-3.2 acres with good year round access and +-265' of shoreline. Surveyed, with power available at the road. This is a very special parcel with a lot to offer.
Courtesy: Wildwoods Land Company
218-365-3665
Fall Lake West Lotsâ?¦..first time offered to the public. This large lot of +-4.4 acres with +-235 feet of rocky, but level shoreline, is located in a quite bay on the south side of Fall Lake. There are two possible building sites with lake views through Birch, Maple and Aspen. There is an elevated site closer to the road and one with a more gentle approach to the lakeshore on the western side of the lot. A seasonal creek runs through the property. The shoreline is level but rocky. The parcel is surveyed, has power at property edge and has been approved for septic. Close to town but with direct access to the BWCAW.
Courtesy: Wildwoods Land Company
218-365-3665
First time on the market. This Fall Lake lot has +-3.9 acres with a large building site that sits off the water. From there it's just a short walk towards the level +-205' of shoreline. Fall Lake is a popular entry point into Basswood Lake and the BWCA. At over 6 miles long and 2,322 acres, Fall Lake offers countless fishing and recreational opportunities. This heavily wooded parcel with mixed tree coverage. Surveyed, power and approved for septic.
Courtesy: Wildwoods Land Company
218-365-3665
This is the first time that these Fall Lake West Lots have been put on the market. This +-2.6 acre lot has +-210 feet of shoreline and good views looking down Fall Lake to the north and west. A high flat ledge outcropping gives good views down Fall Lake to the east. The lot is nicely wooded with birch, maple, spruce and balsam. Accessible rocky shoreline. Level from the road to possible building sites. The parcel has been surveyed, has power at the property edge and has been approved for septic. Close to Ely, yet out in the wilds. Direct access to the BWCA, as well as being a short drive to other diverse lakes along the Fernberg Road.
Courtesy: Wildwoods Land Company
218-365-3665
Nice level lot on the south shore of Fall Lake with +-215 feet of rocky/sandy shoreline and with direct access into the BWCA and to Basswood Lake. This +-2.9 acre lot has several good building sites with views down the entire length of Fall Lake to the east. The rock outcroppings enhance the character of this lot. Ideal property for your home or cabin, close to Ely (5.5 miles) but out in the woods. Close to a number of other lakes and BWCA entry points. The parcel has been surveyed, approved for septic and has power at the property edge.
Courtesy: Keller Williams Classic Realty NW
763-463-7500
Shagawa Lake Lot: West Facing 8 +/- acres and 885 +/- feet of wooded shoreline consisting of Maple, Pople, Mixed Pines, Cedar and Birch. This beautiful parcel is only 2.7 miles from the center of Ely and provides you your own Natural Wildlife Sanctuary or you can take a quick walk across Grant McMahan to a magnificent 87 acre Wildlife Management Area. You will be able to enjoy gentle hikes, Game watch or hunt for Deer, Bear, Small Game, Forest Upland Birds, and Waterfowl. Shagawa Lake is an amazing local treasure that provides outstanding water recreation opportunities - leisure and power boat fun as well as the opportunity to fish for and catch walleye, muskellunge, northern pike, smallmouth bass, largemouth bass, black crappie, bluegill, burbot, green sunfish, lake whitefish, pumpkinseed, rock bass, tullibee (cisco), yellow perch and more. The current owners have provided a Septic & Building Site Evaluation completed in conjunction with an overlayed Wetland Delineation Map identifying building sites, septic sites, uplands and lowlands. Will you be the one?
Courtesy: Z' Up North Realty
218-827-2288
A MUCH sought after ranch style home with a bonus walkout basement is situated in a quiet neighborhood and close to all Ely has to offer. This 3BR/2BA home sits on a large oversized double lot that has been recently landscaped including adding a retaining wall and leveling out the large lot to increase the outside space to be more user friendly. The original hardwood floors have been exposed and fresh paint throughout!!! The main floor bath has a large walk-in shower. Kitchen has oak cabinets and newer laminate countertops. The basement has a large rec room area, bathroom, and tons of dry storage which also includes a brand-new propane heater just installed 2 weeks ago and newer electric water heater. The detached 2+ garage has been recently insulated, and electric panel has been updated. A 3-season porch and small deck off the back rounds out this amazing property. Come check it out very soon!!! Priced to sell!!!
Courtesy: Ely Realty
Commercial building in downtown Ely. Two levels for a total of 6,900 square feet with each level having 3,450 square feet. The main level features 2 private rooms with tile floors, a huge open space with tile flooring, and 2 bathrooms. There is a utility room with the furnace and electrical system plus 2 overhead garage doors that can be redone to access the main level from the back of the building. The second level has most recently been a billiard hall and has a large open room, a second room with a stage, kitchen and 2 bathrooms. There is also a private room that could be an office. There is a deck/patio area at the back of the building. Separate private entrances for each level, lending itself to two separate business ventures. This property has great potential for your business in the heart of downtown Ely.
Courtesy: Canoe Capital Realty, LLC
218-365-8689
Wake up to a breathtaking, 180-degree view of Moose Lake - a desirable entry lake to the Boundary Waters Canoe Area Wilderness. This custom home is Northwoods Luxury. Over 250â?? of shoreline and completely renovated in 2023. This retreat is stunning! All new Marvin windows, doors, mechanicals (including forced air furnace, smart thermostat, A/C, plumbing, electrical), high-end appliances, energy-efficient spray foam insulation and new Timberline shingle roof.) The lower level has a two-stall garage and workspace with in-floor heat. The finished mudroom leads upstairs; the remainder is partially finished and home to a ¾ bathroom, storage, utility room with ss sink, prep area and the 2nd set of W/D. The upper level includes two additional entrances into an open concept living and dining area. Step into your own professionally designed Kitchen with custom cherry cabinets, GE Café appliances, brushed bronze finishes, including Moen faucet, farm sink, tile backsplash and granite counter tops. A large island with a dual oven gas range and counter height seating to entertain at. Past the Legacy wood stove and field stone wall, the concrete overlay flooring continues into the Great Room. Relax with in-floor heat and lake views from all three sides including an oversized 8â?? sliding door. North-facing, youâ??ll get a chance to watch both sunrises and sunsets and of course, the Northern Lights. The main level also offers three bedrooms and a versatile office space, perfect for remote work or hobbies. Rest well with custom-fitted black out window treatments, found in all bedrooms and the office. The second bathroom offers a soaking tub, large vanity, linen closet and stacking W/D. The recent renovation spared no expense, resulting in a meticulously crafted space that blends indoor hospitality with unparalleled outdoor living. Choose your own exterior paint color, sellers have escrowed the cost of painting in the color of your choice. The property's unique features include a sought-after sandy beach, a new dock and two charming lakeside cabins. These cabins, with their endless potential, could be transformed into guest quarters, a boathouse, sauna, or even short-term rentals. Located on the quiet western side of the lake. Don't miss this once-in-a-lifetime chance to own a piece of Northwoods paradise.
Courtesy: Z' Up North Realty
218-827-2288
Updated corner lot with 2 garages! 2-bedroom 2 bath home near the school, parks, downtown, and the hospital. This home features, two, 22x28, 2 stall garages! Both are insulated and heated, and one has water, mini split, air conditioning and central vacuum! Both bedrooms in this home are HUGE and both connect to the oversized full bathroom. The second level landing could double as an office, reading area, or workout room. Many of possibilities. On the main level, you will find, a half bath, eat-in kitchen, large laundry room with storage (this could easily be turned back in to a bedroom), and nicely sized living room that has hardwood under the carpet. The basement has a large workshop area, a rec area with a bar, and a room off the steps that could be used for storage. This home is move in ready! Make an appointment to see it today!
Courtesy: Bear Island Realty LLC
218-365-2800
Traditional style 3-bedroom home in a convenient location. Beautiful hardwood floors in the living room, main floor laundry, loads of built-ins, and bright kitchen are all offered in this Ely home. Upper level features a full updated bathroom, a larger primary bedroom and 2 smaller bedrooms or office/nursery. Many quality updates including propane furnace, water heater, electric, and roof. 1-car garage and additional parking. Make this your new home, rental, or retreat all at an affordable price!
Courtesy: Bear Island Realty LLC
218-365-2800
Spacious 4 bedroom, 2 bath home located within walking distance to much of Ely's offerings. The main level includes a quaint living room, an open kitchen & dining room with ash cabinets, new flooring, new sheetrock & paint. The family room has newer flooring, wood accents, built-ins, and a stone corner propane fireplace. Off of the family room is a 1/2 bath combined with convenient main level laundry. The upper level may be accessed by two separate staircases and includes 4 bedrooms, a 3/4 bathroom, most rooms have been freshly painted and newly carpeted throughout. The full basement may be accessed by two staircases. The outside features a: newer roof, front porch, new landscaping, back deck, and 2 1/2 stall garage. Sewer line inspected and compliant.
Courtesy: Coldwell Banker Realty
612-920-5605
Once in a lifetime offering of this magnitude, 252.54 acres with endless options, views of water and woods, acres of gravel, soil and heavily wooded opportunity, slow and subtle elevations make the entire property ideal for creative uses. The entire offering includes: 28-6311-31310, Lot Acres: 40.000 - 28-6311-31340, Lot Acres: 42.640 - 28-6311-31370, Lot Acres: 40.000 - 28-6311-31590, Lot Acres: 43.300 - 28-6311-31650, Lot Acres: 43.630 - 28-6311-31400, Lot Acres: 42.970
Andrea D. Conner, License # 40471694,Xome Inc., License 40368414, [email protected], 844-400-XOME (9663), 750 State Highway 121 Bypass, Suite 100, Lewisville, TX 75067
Listings courtesy of Northstar MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of {{last updated}}. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. Xome Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Xome Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. Information Deemed Reliable But Not Guaranteed. Open House information is subject to change without notice. Copyright 2025, Regional Multiple Listing Service of Minnesota, Inc. All rights reserved
Andrea D. Conner, License # 40471694, Xome Inc., License 40368414, [email protected], 844-400-XOME (9663), 750 State Highway 121 Bypass, Suite 100, Lewisville, TX 75067
2025 Copyright 2025 Lake Superior Area REALTORS® Multiple Listing Service. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Lake Superior Area REALTORS® Multiple Listing Service. Real estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing these data believes them to be correct but advises interested parties to confirm them before relying on them in a purchase decision.
