Use this information to understand the graphs on the right

The FOR SALE numbers are the snapshot of the number of property for sale at the end of the month.

The Pended numbers represent the number of properties that went into pending status in that month.

The New Listing numbers represent the number of  properties that are newly listed in a particular month.

The Sold numbers represent the number of properties that are sold on a particular month.

The Average Price per SQft is the average of sold price divided by square footage of sold listing. Garage area is not used

Months of Inventory is based on closed sales.  The MOI based on closed sales=the number of properties for sale divided by the number of properties sold.

Months of Inventory Report: Slow (Buyer's) Market - More than a 6-month supply of homes for sale.  Hot (Seller's) Market - Less than a 3 month supply of homes for sale.  Neutral Market - 3-6 months supply of homes for sale.

Price Per Square Foot: Helps establish the market price for an average price. Can determine if there are any changes in property values.  Measures appreciation or depreciation of home.

We can customize these graph's based on Location, School District, Counties or Zips. This customization can include Single Family Homes, Condo's, Farms or Multi-Family.  Adding Waterfront, Lot Size or Acres, Price Range and Square Footage of living area.  Call Gail at 231-349-9980 and request a FREE Custom Report to meet your needs