Is Phelps, WI 54554 a buyer’s or seller’s market?

The Phelps housing market right now

In the three months ending August 31, 2026, 29% of homes in Phelps, WI 54554 sold above their list price, the typical home went under contract in 69 days and there were 3.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 14 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 22%, homes sold more slowly (57 days then) and the median sale price rose 20% to $359,844. Overall, Phelps is about as competitive as it was a year ago.

Within Vilas County, homes here sell more slowly than in 91% of the county’s ZIP codes, and sell less often over asking than in 55%.

Nearby, buyers who want less competition could look at Sayner 54560 (0% sold over asking) or Saint Germain 54558 (5% sold over asking), while Land O Lakes 54540 (50% sold over asking) and Star Lake 54561 (50% sold over asking) are even more competitive.