There are lots of people in the story, so it is sort of hard to follow. In the beginning there is an introduction where the author tells what a hobbit is. This introduction gives the general background, which makes the story easier to understand.
The plot development in the middle isn't complicated. The ending is expected since the author gives hints about it. As in the introduction when he says that the hobbit
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showed last 75 words of 428 total
was somewhat like the Chronicles of Narnia. Since the story happens in many places over Middle Earth, the author gives a good description where important things happen.
In other places he gives a more general description. Most places give the reader a picture in their brain because the author uses words that give good descriptions. The story happens within a year. It starts in the spring and ends about the same time a year later.