Mercer Housing Update: Values Edge Higher as Land Listings Lead Activity
Mercer, WI – March 16, 2026 – Home values are up year over year as limited inventory and steady land listings shape the local market.
Top takeaways
- Typical home value around $293K, up 4.9% year over year.
- About three dozen homes listed, with median sale price near $298K.
- Land and acreage make up a large share of active listings.
Market snapshot
Home values in Mercer continue to trend upward. Zillow reports a typical home value of $292,693, a 4.9% increase over the past year (data through January 31, 2026). Inventory remains relatively tight. Realtor.com shows roughly 37 homes for sale, with a median sale price of $297,500 and homes selling at about 97% of list price. Median days on market recently hovered near two months, suggesting steady but not frenzied demand.
For ZIP 54547, the median for-sale price is listed just under $299K, reflecting the area’s mix of cabins, year-round homes and waterfront properties.
What’s for sale
Available listings are heavily weighted toward vacant land and larger parcels, a common pattern for this Northwoods community.
- Buildable lots around 1 to 2 acres are listed from roughly $35K to $100K.
- Larger tracts, including 6+ acre wooded parcels, are marketed near $49K and up.
- Substantial acreage properties, including multi-hundred-acre parcels, are on the market at significantly higher price points.
This concentration of land listings may appeal to buyers planning custom builds or seasonal retreats, while existing single-family inventory remains comparatively limited.
Outlook
With values rising modestly and supply constrained, Mercer remains a stable, small-market environment rather than a rapid-turnover market. Buyers appear selective, particularly on higher-priced or specialty properties, while well-priced homes and attractive lots continue to draw interest.
Are you seeing quicker sales on cabins or more interest in vacant land this spring?
Sources
https://www.zillow.com/home-values/46506/mercer-wi/
https://www.realtor.com/local/market/wisconsin/iron-county/mercer
https://www.zillow.com/mercer-wi/
https://www.homes.com/mercer-wi/land-for-sale/