Ely home prices fall in the third quarter of 2020

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The median sale price of a home sold in the third quarter of 2020 in Ely fell by $12,800 while total sales increased by 25%, according to BlockShopper.com.

From July through September of 2020, there were 15 homes sold, with a median sale price of $266,000 - a 4.6% decrease over the $278,800 median sale price for the same period of the previous year. There were 12 homes sold in Ely in the third quarter of 2019.

The median sales tax in Ely for the most recent year with available data, 2017, was $3,270, approximately 1.2% of the median home sale price for the third quarter of 2020.

The following table compares Ely to other Linn County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Center Point1324-45.8%$190,000$130,50045.6%
Mount Vernon201353.8%$182,750$188,000-2.8%
Cedar Rapids532776-31.4%$150,000$144,0004.2%

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