Is Bayfield County, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Bayfield County was a Seller's Market.
Key Takeaway
Bayfield County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bayfield County, WI
How much do homes in Bayfield County, WI cost?
Median Sold Price
$280,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bayfield County have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Bayfield County was $280,000 in May 2024, up 1.8% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $132K | $204.5K | +54.9% |
| 2 Bedrooms | $245K | $242K | -1.2% |
| 3 Bedrooms | $330K | $315K | -4.5% |
| 4 Bedrooms | $450.5K | $359K | -20.3% |
| 5+ Bedrooms | $1.5M | $320K | -79.3% |
Summary: Bayfield County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.9%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 20.3%, and 5+ bedroom homes decreased by 79.3%.
Median Sold Price Compared To Nearby Counties
| Bayfield County | $275K | $280K | +1.8% |
| Douglas County | $218K | $218.9K | 0.4% |
| Ashland County | $235K | $200.5K | -14.7% |
Housing Supply in Bayfield County, WI
How many homes are available in Bayfield County, WI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 123 | 134 | +8.9% |
Summary: The Bayfield County real estate market had 134 homes for sale in May 2024, a 8.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 10 | -9.1% |
| 2 Bedrooms | 28 | 35 | +25.0% |
| 3 Bedrooms | 53 | 58 | +9.4% |
| 4 Bedrooms | 20 | 21 | +5.0% |
| 5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The Bayfield County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.1%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 18 | +38.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bayfield County, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Bayfield County in May 2024, up by 38.5% month-over-month. Of the 17 sold homes, 53% were sold under asking, 29% were sold at asking, and 18% were sold over asking.
Days on Market for Bayfield County, WI
How long does it take to sell a home in Bayfield County, WI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Bayfield County has remained consistent over time.
Summary: During May 2024, 18 homes were sold in Bayfield County; 0% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Copyright © 2024 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.