Let's take a look at the housing market in Anderson Township and Newtown, Ohio...in Cincinnati's close-in suburbs.   We are grouping them together because they tend to attract the same group of buyers looking for similar properties in the Forest Hills School Distict.  Homes are from new construction to 60+ years old, with the price range varying from $80-1,000,000.

To give you prespective about the market, the graph shows sales for the past five years, through October 31, 2009.  You can easily see the increase in prices and the decrease as the recession strengthened.  Part of that price decrease can be attributed to a higher percentage of lower priced listings sold. 

With loans harder to acquire, higher priced homes listed at over $450,000 have struggled to find buyers, both because of the inability to sell the buyer's home and the difficulty in getting significant down payments.Market Analysis - Anderson Townshio and Newtown, Ohio - October, 2009 This brings down the median price.

 

 

 

 

 

 

 

 

 

 

 

Currently the area has 359 active listings on the market.  There are 76 pending sales.  Homes sold in an average of 88 days on the market (DOM). If you use the last year's number of sales and compare it to the number of active listings, there are approximately 8.5 months of inventory on the market.  Looking only at the number of pending sales to active listings, a more robust market would be anticipated. The National Association of Realtors indicates that six months of inventory is a balanced market.