February 2025 Sales Update

In Ashland, only six single family homes closed last month. 1015 Chapple Ave. sold in two days, and this is a crazy outlier, for even including that sale in average data, the average days on market for the six homes sold was 115 days. That’s nearly four months! The Sellers of Chapple were aggressive with its price, asking only $149,000 for a solid old home with a well-maintained interior. It was the only home of the bunch that sold at or above asking; the other five all sold below the Seller’s initial asking price. Ashland's most expensive sale of the month was 50566 Beaser Ave, a spacious modern home sitting on 5.3 acres just south of the city. 

In Washburn, 848 W Bayfield St. was the only single family home that sold last month. This home was last on the market in 2021 when it sold for $114,900. Since then, the owners completed extensive renovations of both the interior and exterior to the point that now, nearly four years later, it sold for $241,000. And quickly. 

In Bayfield, there was only one single family home sale as well: 621 Rittenhouse Ave. This home’s been on and off the market since January of 2024. The Seller initially sought $549,000 then, and after a series of price changes, agreed to sell for $415,000, which is still up quite a bit from what it last sold for in 2017: $267,500. 

Over in Port Wing, a couple of huge acreages sold. 101 acres with a manufactured home sold for $279,000; on Lois Ln—what a great street name!—a 165 acre parcel with a small, 576 sq ft home, sold for what’s maybe the strangest price I’ve ever seen: $291,001, which was exactly what they were asking. 

On the island, 2508 Spirit Ln, a modest home sitting on 20.25 acres, sold in one week for $301,000. If there’s one place around here where real estate’s not showing signs of slowing, it’s Madeline Island. 

Landwise, two disparate parcels in Ashland sold. a .26 acre lot on Toll Rd. sold for $11,900; and a 116 acre parcel on Pearce Rd sold for $155,000. Both sold below asking; both sold for cash. And that’s all for land sales. 

That’s all for February.

Ryan Hogan, Birdhouse Realty, Bayfield, Wisconsin

February 2025