Who's buying homes in the city of Bayfield?

It’s impossible to discount the impact tourism has on Bayfield—and to a greater extent the Chequamegon Bay area; many locals rely heavily on the money that floods the area in the summer months. Beyond tourists, though, there are many people who choose to buy vacation homes or land in the area, people who have chosen to invest in the area on a part-time basis. 

As a resident of the city of Bayfield, one with numerous part-time neighbors, I was curious: Who is buying the homes in the city of Bayfield? How are the homes in the city of Bayfield being used?

So I took a look. 

Since January of 2020, 49 single family homes (not accounting for condos) have sold in the city limits. Of those sales, 24 of the homes sold are being used as primary residences, 18 of those homes are being used as secondary residences (for personal use or rentals I cannot say), and 7 of those are being used as rentals. 

Of those sales, investment companies—each of which is established in Wisconsin—paid the most on average: $332,214. Secondary homeowners paid the least on average: $286,000. And where are they from? Mostly Minnesota and Wisconsin, as you’d expect, but a few others sold to parties from California, Illinois, Florida, and Washington.