What sold in Ashland this summer?

Thirty-seven homes closed in the City of Ashland this summer, the most of any quarter so far this year. The headline numbers are steady. Underneath them, the sales split into two groups that behaved almost like opposites.

THE QUARTER AT A GLANCE

Closed sales | 37

Total sales volume | $8,411,035

Average sale price | $227,325

Median sale price | $215,000

Average days on market | 36.6

Median days on market | 16

Average sale price as a share of asking | 97.3%

Sold above / at / below asking | 12 / 4 / 21

How they sold | 22 conventional, 8 cash, 4 VA, 3 FHA

Q3 accounted for about 45 percent of the year's 82 sales and about 52 percent of its $16.3 million in volume. Compared with the second quarter, the median price rose from $209,500 to $215,000, and the average from $199,812 to $227,325.

Thirteen homes sold within a week. They averaged 102.5 percent of asking. Eight closed above asking. None of the thirteen had cut its price.

Another 13 took a month or more. They averaged 94.5 percent of asking. 10 of the 13 had reduced their price at some point.

The remaining 11 homes fell in between, selling in 8 to 30 days. The pattern is the same one visible across the whole year to date: the fastest sales paid the most, and the slowest had usually already come down in price.

August was the busiest month of the entire year to date, and 12 of its 16 sales closed below asking. Across those 12, the homes sold an average of about $16,000 under their asking prices. September's median price, $175,000, was well below August's, even though the month had 13 sales.

The quarter's highest sale price was $640,000 for 2812 Fellman Drive, which closed August 21. It had been on the market 295 days, listed at $695,000 and reduced to $625,000. It sold at 102.4% of the reduced price. Also above $400,000 were 123 22nd Avenue West ($499,000 on a 5.24-acre lot, September 18) and 822 Chapple Avenue ($451,000).

At the other end, only three of the quarter's 37 sales were under $100,000, compared with six of 19 in the first quarter.

How does this year’s Washburn, Wisconsin housing market compare to last year’s?

Three quarters into 2025, 23 city of Washburn homes had sold. Through that same timeframe this year, sales are down roughly 30%. Only 16 homes have closed. Up, however, is sale price. Last year the median sale price was $241,000. This year, roughly $251. 

Despite a generally higher sale price, homes are taking longer to sell than last year. Homes are sitting, at a median, 15 days longer on the market this year than last year. 

Ten homes closed in the City of Washburn this summer, more than the first two quarters combined. Seven of them were cash sales, and eight sold for less than their asking price. 70% of them sold for cash. 

This quarter’s sales account for roughly 70% of the monetary volume for the year, which is not uncommon. 

Prices started the year low, at about $205,000 in January and $195,000 in February. They stepped up to $254,900 in April, then eased through June ($241,000) and July ($231,000). August was the peak at $326,500, the only month with several higher-end sales, including two lakefront homes. September cooled a bit to $283,250. 

If current trends hold, this year’s going to end with fewer home closings than last year. Currently, there are only two homes actively for sale in the city of Washburn. A few are under contract, but regardless, with a lower quantity of homes available for purchase this year than last, it’s not surprising they’re selling for a little more than last year. 

Bayfield's Third Quarter: Three Sales, Each Faster Than the Last

Three homes closed in the City of Bayfield this summer, one in each month. That is a small number, so this post sticks to what those three sales show and leaves the guessing out. What they show is a clear three-step pattern worth a look.

QUARTER 3 AT A GLANCE

Closed sales | 3

Average sale price | $346,667

Median sale price | $340,000

Average days on market | 35.3

Median days on market | 9

How they sold | 2 conventional, 1 cash

Bayfield's three Quarter 3 sales matched the total of the first half of the year combined. It also made up half of the year's six closings and about 56 percent of the year's $1.86 million in sales volume.

What sold?

33 S 4th Street, $340,000

The home was listed for $365,000 and sold for 93.2 percent of that price. It was on the market for 93 days and sold with conventional financing.

17 S 8th Street, $325,000

This one sold for its $325,000 asking price after nine days. It sold through a conventional loan.

233 N 4th Street, $375,000

This home sold for 114% of asking, $329,000 after four days on the market. The buyer paid cash.

Each month's sale took less time than the one before, and each closed closer to, or further above, its asking price. The price per square foot rose each month too.

How did Quarter 3 compare to Quarter 2?

The average price barely moved: $347,500 in the second quarter and $346,667 in the third. The difference is in speed. Average days on market fell from 66.5 to 35.3, and the third quarter's median was 9 days. The third quarter was also the first in which any home sold with conventional financing. Both second-quarter sales were cash.