Is Alpha, MI 49902 a buyer’s or seller’s market?
Alpha 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 Alpha housing market right now
In the three months ending August 31, 2026, 0% of homes in Alpha, MI 49902 sold above their list price, the typical home went under contract in 362 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. With only 2 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (26 days then) and the median sale price rose 30% to $58,974. Overall, Alpha is less competitive than a year ago, which gives buyers more room.
Within Iron County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.
Nearby, Caspian 49915 (17% sold over asking) and Crystal Falls 49920 (11% sold over asking) are even more competitive.
Run the numbers for 49902
Nearby markets
Amasa 49903 $411 /sq ftCaspian 49915Seller’s market $101 /sq ftCrystal Falls 49920Buyer’s market $207 /sq ftGaastra 49927Seller’s market $130 /sq ft Browse all markets →Where Alpha is
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Questions about Alpha real estate
Is Alpha a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Alpha, MI 49902 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 Alpha?
The typical home went under contract in 362 days in the latest three months.
Do homes in Alpha sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 92.3% of the list price.
What are property taxes in Alpha?
About 1.34% of a home’s value a year in Iron County, or roughly $5,360 on a $400,000 home.
What is the median home price in Alpha?
The median sale price was $58,974 in the three months ending August 31, 2026, about $31 per square foot.
Local agents
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More tools for 49902
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology