Is Wallace, MI 49893 a buyer’s or seller’s market?
Wallace is a buyer’s market. With about 8.5 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Wallace housing market right now
In the three months ending August 31, 2026, 0% of homes in Wallace, MI 49893 sold above their list price, the typical home went under contract in 43 days and there were 8.5 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 3 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 33%, homes sold faster (60 days then) and the median sale price rose 30% to $304,868. Overall, Wallace is less competitive than a year ago, which gives buyers more room.
Within Menominee County, homes here sell faster than in 63% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Hermansville 49847 (50% sold over asking) and Stephenson 49887 (50% sold over asking) are even more competitive.
Run the numbers for 49893
Nearby markets
Carney 49812 — /sq ftDaggett 49821Seller’s market $162 /sq ftHermansville 49847Seller’s market $200 /sq ftIngalls 49848Seller’s market $154 /sq ft Browse all markets →Towns like Wallace nearby
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Questions about Wallace real estate
Is Wallace a buyer’s or seller’s market?
A buyer’s market: there were 8.5 months of supply in Wallace, MI 49893 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Wallace?
The typical home went under contract in 43 days in the latest three months.
Do homes in Wallace sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 93.6% of the list price.
What are property taxes in Wallace?
About 1.01% of a home’s value a year in Menominee County, or roughly $4,040 on a $400,000 home.
What is the median home price in Wallace?
The median sale price was $304,868 in the three months ending August 31, 2026, about $135 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology