Balsam Lake Housing Market Report March 2025•Polk County, Wisconsin

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Housing Prices in Balsam Lake, WI

How much do homes in Balsam Lake, WI cost?

Housing Market Conditions

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

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Balsam Lake is a Neutral Market

Difference Since February 2025

Last month, Balsam Lake was a Buyer's Market.

Insight

Balsam Lake is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$992,500$281/SqFt
+$837,500
+540.3%

Based on all homes sold in March 2025

Insight

Homes in Balsam Lake have sold for 540.3% more than they did a month ago.

Summary: The median home sold price in Balsam Lake was $992,500 in March 2025, up 540.3% from last month, and the median price per square foot was $281.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2025Mar 2025Change MoM
1--
N/A
2$155K-
N/A
3-$460K
N/A
4-$1.5M
N/A
5--
N/A

Summary: Balsam Lake housing price by bedroom type for March 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes did not change. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

How does Balsam Lake, WI compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Balsam Lake, WI

Housing supply in Balsam Lake, WI

How many homes are available in Balsam Lake, WI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
12Last MonthMar 2025
102 months agoFeb 2025
+20.0 %
Change MoMFeb – Mar

Summary: The Balsam Lake real estate market had 12 homes for sale in Mar 2025, a 20.0 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
2Last MonthMar 2025
12 months agoFeb 2025
+100.0 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
100
0.0%
254
-20.0%
345
+25.0%
413
+200.0%
500
0.0%

Summary: Balsam Lake housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -20.0%. The inventory for 3 bedroom homes increased by +25.0%. The inventory for 4 bedroom homes increased by +200.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Balsam Lake, WI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price0 Home

Under Asking Price2 Homes

Insight

If you're buying a home in Balsam Lake, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Balsam Lake in March 2025, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.

Days on Market for Balsam Lake, WI

How long does it take to sell a home in Balsam Lake, WI?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days0 Home

Over 90 Days2 Homes

Insight

Most homes in Balsam Lake are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2025, 2 homes were sold in Balsam Lake; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
125 DaysLast MonthMar 2025
11 Days1 month agoFeb 2025
+1040.9 %
Change MoMFeb – Mar

Summary: Homes in Balsam Lake had an average listing age of 125 days in Mar 2025, up by 1040.9% compared to the previous month.

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Newest Listings in Balsam Lake, WI

What homes are available in Balsam Lake, WI?

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MLS Disclaimers and Copyright

Based on information from NorthStar of Minnesota / Regional Multiple Listing Service of Minnesota Inc., and Wisconsin Real Estate Exchange for the period 02/01/2025 - 04/01/2025

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/9/2025, 7:22:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Information is supplied by seller and other third parties and has not been verified. All information deemed reliable but not guaranteed and should be independently verified. Information is supplied by seller and other third parties and has not been verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker nor this broker nor MLS shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/9/2025, 7:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.