Is Iron River, WI 54847 a buyer’s or seller’s market?
Iron River is a buyer’s market. With about 6.7 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Iron River housing market right now
In the three months ending August 31, 2026, 0% of homes in Iron River, WI 54847 sold above their list price, the typical home went under contract in 83 days and there were 6.7 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 10 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 19%, homes sold more slowly (38 days then) and the median sale price rose 2% to $295,872. Overall, Iron River is less competitive than a year ago, which gives buyers more room.
Within Bayfield County, homes here sell more slowly than in 89% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Bayfield 54814 (38% sold over asking) and Port Wing 54865 (33% sold over asking) are even more competitive.
Run the numbers for 54847
Nearby markets
Bayfield 54814Balanced $268 /sq ftCable 54821Buyer’s market $268 /sq ftCornucopia 54827Buyer’s market $223 /sq ftDrummond 54832 $187 /sq ft Browse all markets →Towns like Iron River nearby
Find towns like Iron River in other states →Where Iron River is
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Questions about Iron River real estate
Is Iron River a buyer’s or seller’s market?
A buyer’s market: there were 6.7 months of supply in Iron River, WI 54847 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 Iron River?
The typical home went under contract in 83 days in the latest three months.
Do homes in Iron River sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 95.5% of the list price.
What are property taxes in Iron River?
About 1.01% of a home’s value a year in Bayfield County, or roughly $4,040 on a $400,000 home.
What is the median home price in Iron River?
The median sale price was $295,872 in the three months ending August 31, 2026, about $236 per square foot.
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More tools for 54847
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology