Current Market Rating: 1 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 1 1 2 3 4 5 Falling Rising

The price correction has been taking place for the last several years. The interest rate is still very attractive, and it means it is a very good time to be a buyer.

There are 51 homes on the market at the present time. The average list price is $388,000 and the average days on market of 250. In the last 6 months, 34 homes sold for an average price of $313,000 and the average days on the market was 162 days.

Taking into consideration that 34 homes sold in the last 6 months, Lancaster has approximately 9 months of inventory. Homes that are priced correctly are moving well, but the more expensive or overpriced homes are staying on the market or expiring.

Buyers should definitely take advantage of the very low interest rates and great pricing and purchase now. The special financing options, including the $8,000 federal tax credit for new purchases, are abundant now. This is a strong buyer's market with interest rates brushing 5% range.


ZIP Code: 01523

Approximate Location Boundaries: Lancaster is bound by Bolton and Berlin on the East, Clinton on the South, Sterling on the West, Leominster and Harvard on the North.

Location Characteristics: Lancaster is a quiet college community with a population of about 7,000 people. The Bullfinch Church is a well-known building in this very old (over 350 years) town.

Many gracious antiques line the main street, and there are a number of areas of new construction in the town. Atlantic Union College provides many cultural events and the library is open to Lancaster residents.

This is a wonderful small town with great access to major highways for easy commuting.

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