Is Caspian, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Caspian is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Caspian has remained a Seller's Market.

Key Takeaway

Caspian is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Caspian, MI

How much do homes in Caspian, MI cost?

Median Sold Price

$50,950

$36/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$12,950(+34.1%)

Key Takeaway

Homes in Caspian have sold for 34.1% more than they did a month ago.

Summary: The median home sold price in Caspian was $50,950 in October 2024, up 34.1% from last month, and the median price per square foot was $36.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $38K-
N/A
3 -$79.9K
N/A
4 -$22K
N/A
5+ --
N/A

Summary: Caspian housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Caspian
+34.1%
Iron River
-27.8%

Housing Supply in Caspian, MI

How many homes are available in Caspian, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
56+20.0%

Summary: The Caspian real estate market had 6 homes for sale in October 2024, a 20.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 22
0.0%
3 23
+50.0%
4 11
0.0%
5+ 00
0.0%

Summary: The Caspian housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Caspian, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Caspian in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Caspian, MI

How long does it take to sell a home in Caspian, MI?

Average Sale Time

Sep 2024Oct 2024CHANGE
55 Days3 Days-93.6%

Summary: Homes in Caspian had an average of 3 days on market in Oct 2024, down by 93.6% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Caspian are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in Caspian; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 5 Days Ago

Newest Listings in Caspian, MI

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