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WALLACE, MI 49893

Real Estate Market Report  ·  Menominee County
Balanced Market
March 2026  ·  Source: Realtor.com

Market Analysis

Data as of March 2026. Source: Realtor.com.

The WALLACE, MI real estate market (49893) currently shows 1 active listings. Homes are averaging 163 days on the market before going under contract.

Inventory has tightened compared to last year, with 4 fewer active listings — creating more competition among buyers.

Homes are taking longer to sell, averaging 163 days on market compared to 88 days last year.

The median listing price has risen 39.9% year-over-year, from $242,400 to $339,000.

Whether you are buying or selling in WALLACE, MI, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 1,361  ·  Density: 7.1/mi²  ·  Median household income: $62,778

Typical home value: $169,813  ·  Homeownership: 94.5%

Market Overview

Active Listings
1
⇩ 80% vs 5 last year
Pending
0
0% pending ratio
Median Price
$339,000
⇧ 39.9% vs $242,400 last year
Average Price
$339,000
⇧ 39.9% vs $242,400 last year
Days on Market
163
⇧ 85.2% vs 88 days last year

Price Per Square Foot

Median $/sqft
$137
⇩ 21.3% vs $174/sqft last year
Median Home Size
2,472 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 1 this year vs 5 last year
  • Days on market: 163 now vs 88 last year

Median & Average Pricing

Year over Year
  • Median: $339,000 (+39.9% YoY)
  • Average: $339,000 (+39.9% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 32.3 miles — 144 listings ($73,480,144 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
49893Wallace, MI 498930.0 mi1$349,450$349,450$349,450
49887Stephenson, MI 498879.3 mi8$2,225,832$224,675$278,229
54177Wausaukee, WI 5417714.9 mi14$3,429,776$239,975$244,984
49821Daggett, MI 4982115.6 mi6$2,143,050$374,450$357,175
49812Carney, MI 4981220.8 mi2$974,000$487,000$487,000
54211Ephraim, WI 5421123.1 mi5$672,375$120,000$134,475
54209Egg Harbor, WI 5420925.4 mi65$30,088,500$398,725$462,900
54234Sister Bay, WI 5423425.9 mi14$12,895,442$758,400$921,103
54202Baileys Harbor, WI 5420227.1 mi11$12,044,868$787,450$1,094,988
54112Coleman, WI 5411228.0 mi3$549,699$169,900$183,233
49847Hermansville, MI 4984728.3 mi1$62,500$62,500$62,500
54161Pound, WI 5416129.7 mi10$6,673,300$352,400$667,330
49807Bark River, MI 4980732.3 mi4$1,371,352$354,500$342,838

Frequently Asked Questions

How many homes are for sale in WALLACE, MI 49893?

As of March 2026, there are 1 active listings in WALLACE, MI (zip code 49893), compared to 5 the prior year.

What is the median home price in WALLACE, MI 49893?

The median listing price in WALLACE, MI 49893 is $339,000 as of March 2026, a 39.9% increase from $242,400 the prior year.

How long do homes stay on the market in WALLACE, MI?

Homes in WALLACE, MI 49893 spend an average of 163 days on the market before going under contract, compared to 88 days the prior year.

Is it a seller's or buyer's market in WALLACE, MI 49893?

Based on current inventory and days-on-market data as of March 2026, WALLACE, MI 49893 is currently a Balanced Market. Inventory has tightened compared to last year, with 4 fewer active listings — creating more competition among buyers. Homes are taking longer to sell, averaging 163 days on market compared to 88 days last year.

How much can I save on real estate commission in WALLACE, MI?

With SELL123.com's maximum 3% commission, sellers in WALLACE, MI 49893 save an estimated $6,780 compared to a typical 5% commission on the median listing price of $339,000. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.