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.