March Sales Update

Here’s what sold around Chequamegon Bay in March. 

MARCH SALES UPDATE FROM BEAVER HOLLOW

Six single family homes plus one condominium sold in ASHLAND last month. That’s one more than last month. Setting aside a condo on Lake Shore Drive East—the outlier in the bunch—the four homes sold on average for lower than has been the case for a while now. That average sale price was approximately $135,000. And the median price was even lower, $122,500. Now, keep in mind, this is a sample of only six sales, but it’s something to track in not only Ashland but the region on the whole. Days on the market varied from 2 to 148 days with a median of 32 days.

Of the seven sales, two sold above asking—a condo on Lake Shore Dr E as well as 1212 W 8th St, which ironically sat on the market for 82 days before selling. One sold for list. The remaining four sold below asking; on average, they sold for 78% of initial asking price.

Only WASHBURN saw other sales. A couple more cabins on Superior Ave sold, both again for much less than the Sellers initially asked. Otherwise, the two other single family homes sold above asking price. 230 W 4th St, initially on the market for $99,500, sold for $108,750. 16 E 4th St., on the market for $160,000, sold for $170,00. Each was off the market within a week of listing. The old adage—you can’t underprice a home; you can only overprice it—rings true in Washburn last month. 

Commercially, 431 W Bayfield St on the main drag, sold for $205,000, down from $275,000. It’ll be a pottery shop. 

Landwise, a 40 acre parcel on Old 13 in PORT WING sold for $105,000; that’s $2,625 an acre. 

In BAYFIELD, a 3.8 acre parcel on Old Orchard Ln sold for $118,000, approximately $31,000 an acre; it was only on the market for 6 days and sold for $7,000 less that lot’s Sellers were asking. Otherwise, two small acreages on Peterson Hill Rd both sold for approximately $10,500 an acre. 

Each land sale last month was a cash sale. 

Nothing in HERBSTER.

Nothing in CORNY.

Nothing in LA POINTE.