Is Caspian, MI 49915 a buyer’s or seller’s market?
Caspian is a seller’s market. With about 3.2 months of supply and 17% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Caspian housing market right now
In the three months ending August 31, 2026, 17% of homes in Caspian, MI 49915 sold above their list price, the typical home went under contract in 64 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 6 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 25%, homes sold more slowly (29 days then) and the median sale price rose 169% to $161,630. Overall, Caspian is less competitive than a year ago, which gives buyers more room.
Within Iron County, homes here sell faster than in 80% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Gaastra 49927 (0% sold over asking) or Amasa 49903 (0% sold over asking).
Run the numbers for 49915
Nearby markets
Alpha 49902Balanced $31 /sq ftAmasa 49903 $411 /sq ftCrystal Falls 49920Buyer’s market $207 /sq ftGaastra 49927Seller’s market $130 /sq ft Browse all markets →Where Caspian is
Loading map…
Questions about Caspian real estate
Is Caspian a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Caspian, MI 49915 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 Caspian?
The typical home went under contract in 64 days in the latest three months.
Do homes in Caspian sell over asking?
17% of homes sold above their original list price, and the typical sale closed at 99.5% of the list price.
What are property taxes in Caspian?
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 Caspian?
The median sale price was $161,630 in the three months ending August 31, 2026, about $101 per square foot.
Local agents
See all agents in 49915 →No sponsored agents in 49915 yet. Are you an agent here? Put your name in front of local buyers.
More tools for 49915
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology