Looking Back at Recent Trends

Over the past 18 months

Over the past 18 months

📊 Lakefront Market Summary by Property Type

December 2023 – May 2025

After a quiet winter, lakefront property activity across the Northwoods is ramping up as summer approaches. This mid-May update summarizes the real estate market in Forest, Price, and Iron Counties as well as Oneida and Vilas Counties, using data from active listings, properties with accepted offers, and closed sales since December 1, 2023.

The data is grouped by region and broken out by property type: houses, lots, and condos, offering a clearer view of what's happening in each market segment.

🟢 Active Listings

Forest/Price/Iron Counties

• Houses (29):
  Average: $1,040,758 | Median: $679,400 | Range: $499,000 – $4,200,000

• Lots (4):
  Average: $1,384,064 | Median: $603,750 | Range: $207,500 – $4,121,259

Oneida/Vilas Counties

• Houses (127):
  Average: $1,334,264 | Median: $824,900 | Range: $279,900 – $5,625,000

• Lots (52):
  Average: $454,319 | Median: $321,950 | Range: $125,000 – $3,711,000

• Condos (32):
  Average: $454,671 | Median: $399,450 | Range: $309,900 – $919,000

🟡 Under Contract (Accepted Offers)

Forest/Price/Iron Counties

• Houses (14):
  Average: $542,300 | Median: $467,450 | Range: $304,900 – $939,800

• Lots (1):
  Price: $499,900

Oneida/Vilas Counties

• Houses (65):
  Average: $744,507 | Median: $624,900 | Range: $285,000 – $2,200,000

• Lots (15):
  Average: $285,076 | Median: $260,000 | Range: $113,000 – $649,950

• Condos (4):
  Average: $433,000 | Median: $364,000 | Range: $325,000 – $679,000

🔵 Closed Sales (Since Dec 1, 2023)

Forest/Price/Iron Counties

• Houses (115):
  Average: $546,802 | Median: $479,900 | Range: $315,000 – $2,400,000

• Lots (10):
  Average: $274,220 | Median: $259,925 | Range: $205,000 – $425,000

• Condos (3):
  Average: $374,833 | Median: $379,900 | Range: $314,700 – $429,900

Oneida/Vilas Counties

• Houses (508):
  Average: $830,069 | Median: $635,000 | Range: $204,900 – $6,500,000

• Lots (126):
  Average: $306,135 | Median: $214,450 | Range: $104,500 – $2,630,000

• Condos (69):
  Average: $535,571 | Median: $439,900 | Range: $289,900 – $1,150,000

📝 Key Takeaways

• 🔼 Listings are climbing as we head into summer, especially in Oneida and Vilas Counties, which account for the majority of active inventory across all property types.

• 🏠 Homes in Forest/Price/Iron Counties with accepted offers are mostly under $1M, while Oneida/Vilas Counties show stronger buyer demand at higher price points.

• 💰 The luxury segment is alive and well, with closed home sales reaching up to $6.5M and lot sales hitting over $2.6M in Oneida/Vilas.

• 📉 Median prices for sold homes are lower than current asking prices, suggesting buyers are still price-sensitive despite activity picking up.

• 📊 Condos are gaining traction, particularly in Oneida/Vilas where both inventory and sales volume are healthy.