The New Year is upon us and demand for homes is already showing up, especially in the lower, first-time buyer market.  Expectations are that the resell market will also see a benefit from the Federal Government Tax Stimulus.

Numbers for Anderson Township and Newtown in the Forest Hills School District are in for January.  The average of the 23 homes closed this month was $288,980, median was $267,000.  The average price for January greatly exceeds the years from 2005-2009, so you can expect that as additional sales occur, prices for the year will moderate considerably.  The average home was on the market for 113 days.  There are currently 320 homes on the market and 61 pending homes. Anderson Twp and Newtown Home Sales - 2005-09 

 

 

 

 

 

 

 

 

 

 

There is approximately 8 months of inventory available. A balanced market is considered to be 6 months of inventory.

February appears to be starting strong.  The Cincinnati Team's phones have started ringing with buyers asking questions about homes on the market in the Cincinnati area.  They are already out driving neighborhoods.  You can expect that it will be several more months before the tire-kickers move on to serious looking and accepted contracts. 

We expect the actual home sales of homes to kick into high gear as the April 30 drop dead date approaches for having a contract in place (to receive the $8000 or $6500 tax credit).