Is Lake Tomahawk, WI 54539 a buyer’s or seller’s market?

The Lake Tomahawk housing market right now

In the three months ending August 31, 2026, 30% of homes in Lake Tomahawk, WI 54539 sold above their list price, the typical home went under contract in 45 days and there were 3.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 10 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (30% then), homes sold faster (60 days then) and the median sale price fell 39% to $397,328. Overall, Lake Tomahawk is more competitive than a year ago, so tougher for buyers.

Within Oneida County, homes here sell faster than in 86% of the county’s ZIP codes, and sell more often over asking than in 57%.

Nearby, buyers who want less competition could look at Tripoli 54564 (0% sold over asking) or Three Lakes 54562 (13% sold over asking), while Harshaw 54529 (43% sold over asking) and Pelican Lake 54463 (33% sold over asking) are even more competitive.