BAYFIELD | 2025 MARKET SNAPSHOT

OVERALL PRICING	Average Sale Price	$399,678
	Median Sale Price	$285,000
MARKET SPEED	Average DOM	81
	Median DOM	21
METHOD OF PAYMENT	Conventional	18 (54%)
	Cash	14 (40%)
	Other	1 (2.9%)
	FHA	1 (2.9%)
PRICE DISTRIBUTION	Under $200,000	3
	$201,000-$300,000	10
	$301,000-$400,000	6
	$401,000-$500,000	11
	Above $501,000	6

In 2025, demand was hottest between $250,000 and $400,000; cooled sharply above $400,000; and became discretionary above $500,000. Waterfront properties commanded exceptional price premiums but consistently required longer marketing timelines.

The “typical” sale moved fast and held price while a smaller set of listings sat long enough to distort the averages. That tension shows up immediately in the Days on Market (DOM) stats. The median days on market was just 21, meaning half of properties sold in about three weeks. But the average DOM ballooned to 80.7, a classic sign of a market where most homes are liquid, but the misses (typically price) can linger for months.

On pricing, the market looked remarkably “tight to list.” The median sold-to-list ratio was 100%, and even the average came in at 97.7%. In plain terms: buyers negotiated selectively, but they didn’t broadly “reset” pricing across the board. Sellers who were aligned with the market tended to get paid.

Over half of homes sold through conventional loans (51.4%), but cash still accounted for 40% of all closings. That’s not background noise; cash matters in Bayfield. Practically, it means: speed and certainty matter (cash wins ties), homes that show well and are priced right can still trigger fast, decisive outcomes, and sellers may be more willing to accept slightly different terms when closing is clean.

Volume peaked in late spring and summer (May–August), accounting for 54% of all 2025 sales. The market clearly thinned after Labor Day. April marked the first sustained move above $400K. August–October stayed elevated despite falling volume. Year-end softness reflects small sample size, not a systemic price collapse.

Quarterly takeaways:

• Q2 was the market’s engine: highest volume, strong prices, healthy speed.

• Q3 held price despite slower momentum, a sign of buyer conviction.

• Q4 effectively froze—pricing stayed uneven, but liquidity vanished.

Waterfront properties remained their own pricing tier in 2025. Waterfront homes posted +$42.69/SF on average and a median of +$79.32/SF. That premium is embedded in waterfront sales; it’s not a one-off sale. 2025 demonstrated what’s been increasingly the case around the peninsula: buyers will pay for scarcity. Waterfront behaved less like a commodity and more like a luxury niche, where patience was rewarded with price rather than speed.

Ultimately, 2025 reads like a two-speed market: Properly-positioned listings (condition, location, pricing) sold quickly and near list, yet inventory of poorly positioned homes accumulated over time, pushing the average DOM up and creating the impression of a slower market than most sellers actually experienced.