Is Mercer, WI 54547 a buyer’s or seller’s market?
Mercer is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Mercer housing market right now
In the three months ending August 31, 2026, 33% of homes in Mercer, WI 54547 sold above their list price, the typical home went under contract in 49 days and there were 4.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 12 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 29%, homes sold faster (72 days then) and the median sale price held steady to $445,807. Overall, Mercer is more competitive than a year ago, so tougher for buyers.
Within Iron County, homes here sell more slowly than in 80% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Upson 54565 (0% sold over asking) or Saxon 54559 (0% sold over asking).
Run the numbers for 54547
Nearby markets
Gile 54525Balanced $71 /sq ftHurley 54534Balanced $121 /sq ftIron Belt 54536 — /sq ftMontreal 54550Seller’s market $118 /sq ft Browse all markets →Towns like Mercer nearby
Find towns like Mercer in other states →Where Mercer is
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Questions about Mercer real estate
Is Mercer a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Mercer, WI 54547 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 Mercer?
The typical home went under contract in 49 days in the latest three months.
Do homes in Mercer sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 97.6% of the list price.
What are property taxes in Mercer?
About 1.07% of a home’s value a year in Iron County, or roughly $4,280 on a $400,000 home.
What is the median home price in Mercer?
The median sale price was $445,807 in the three months ending August 31, 2026, about $296 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