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IRON RIVER, WI 54847

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

Market Analysis

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

The IRON RIVER, WI real estate market (54847) currently shows 20 active listings, with 5 pending sales. Homes are averaging 144 days on the market before going under contract.

Inventory has increased compared to last year, with 6 more homes available — giving buyers more choice.

Homes are selling faster, averaging 144 days on market compared to 146 days last year.

The median listing price has fallen 18.9% year-over-year, from $462,250 to $375,000.

Whether you are buying or selling in IRON RIVER, WI, 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: 2,310  ·  Density: 4.7/mi²  ·  Median household income: $68,646

Typical home value: $222,616  ·  Homeownership: 78.1%

Market Overview

Active Listings
20
⇧ 42.9% vs 14 last year
Pending
5
25% pending ratio
Median Price
$375,000
⇩ 18.9% vs $462,250 last year
Average Price
$536,736
⇧ 16.3% vs $461,533 last year
Days on Market
144
⇩ 1.4% vs 146 days last year

Price Per Square Foot

Median $/sqft
$254
⇧ 3.3% vs $246/sqft last year
Median Home Size
1,785 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 20 this year vs 14 last year
  • Days on market: 144 now vs 146 last year

Median & Average Pricing

Year over Year
  • Median: $375,000 (-18.9% YoY)
  • Average: $536,736 (+16.3% 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 37.1 miles — 107 listings ($73,255,993 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
54847Iron River, WI 548470.0 mi20$11,011,380$419,750$550,569
54865Port Wing, WI 5486512.3 mi3$1,726,566$475,000$575,522
54849Lake Nebagamon, WI 5484916.3 mi5$2,873,335$549,000$574,667
54844Herbster, WI 5484417.3 mi5$5,749,750$1,149,950$1,149,950
54839Grand View, WI 5483919.1 mi1$169,900$169,900$169,900
54827Cornucopia, WI 5482721.4 mi3$4,057,350$1,352,450$1,352,450
54874South Range, WI 5487425.8 mi6$2,299,002$380,000$383,167
54821Cable, WI 5482126.4 mi9$6,530,121$378,500$725,569
54814Bayfield, WI 5481430.2 mi12$9,226,992$749,900$768,916
55802Duluth, MN 5580234.6 mi6$5,238,678$881,225$873,113
55804Duluth, MN 5580435.7 mi23$20,464,135$649,900$889,745
55805Duluth, MN 5580536.5 mi8$1,872,696$251,150$234,087
54859Minong, WI 5485937.1 mi6$2,036,088$322,250$339,348

Frequently Asked Questions

How many homes are for sale in IRON RIVER, WI 54847?

As of March 2026, there are 20 active listings in IRON RIVER, WI (zip code 54847), compared to 14 the prior year.

What is the median home price in IRON RIVER, WI 54847?

The median listing price in IRON RIVER, WI 54847 is $375,000 as of March 2026, a 18.9% decrease from $462,250 the prior year.

How long do homes stay on the market in IRON RIVER, WI?

Homes in IRON RIVER, WI 54847 spend an average of 144 days on the market before going under contract, compared to 146 days the prior year.

Is it a seller's or buyer's market in IRON RIVER, WI 54847?

Based on current inventory and days-on-market data as of March 2026, IRON RIVER, WI 54847 is currently a Balanced Market. Inventory has increased compared to last year, with 6 more homes available — giving buyers more choice. Homes are selling faster, averaging 144 days on market compared to 146 days last year.

How much can I save on real estate commission in IRON RIVER, WI?

With SELL123.com's maximum 3% commission, sellers in IRON RIVER, WI 54847 save an estimated $7,500 compared to a typical 5% commission on the median listing price of $375,000. 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.