This market analysis for the area of Forest Hills School district includes the areas of Anderson Township and Newtown.  The entire area has been used to give you an adequate look at the areas that attract buyers to the Forest Hills Schools.  So what were the influences on the area in November and how did it fare compared to last year?Anderson and Newtown Market Snapshot - November 2009

 

 

 

 

 

 

 

 

 

 

The historic extension of the Homebuyers Tax Stimulus and the expansion to include homeowners who have owned their properties for at least five years has changed the outlook for real estate.  Economists had predicted that the improvement in home sales might decrease as soon as the rush to get in on the $8000 stimulus expired.  Will it now?

As we chart new territory, it will be fascinating to see how sales respond when we can look at December's numbers.  Since the holiday season is typically a slow time in the real estate year, will buyers get a head start on collecting the $8000 tax credit for first time buyers or $6500 for those selling and buying? 

Good numbers were attributed to abundant inventory of homes, low interest rates and the push to close prior to the original Homebuyer Tax Stimulus deadline.

Currently the area has 330 active listings on the market, compared to last month's 359 homes.  There are 58 pending sales.  The average home sold in 115 days. If you use the last year's number of sales and compare it to the number of active listings, there are approximately  8 months of inventory on the market. The National Association of Realtors indicates that six months of inventory is a balanced market.