A significant price correct has been taking place for quite some time, and it would appear that we are treading at the bottom of the correction.
There are 63 homes on the market at the present time with the average list price of $421,000 and an average days on market of 227. In the last 6 months, 28 homes sold for an average price of $314,000.
Taking into consideration that 28 homes sold in the last 6 months with days on the market of 138 days, Sterling has a 14 month supply of inventory. A normal market would be 6 to 7 months of inventory.
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 the interest rates brushing 5%.
ZIP Code: 01564 Approximate Location Boundaries: Sterling is bound on the East by Lancaster and West Boylston, on the South by Holden, on the West by Princeton, and on the North by Leominster.
Location Characteristics: Sterling is the home to Mary Had a Little Lamb and her original School House was moved to the Wayside Inn in Sudbury by Henry Ford.
The quiet country community has about 7,200 people, excellent schools, and kind and caring people who reach out often to help their fellow townspeople. Noted for its beautiful views, wonderful apple orchards, grass fed beef farms, home make Rotta Springs ice cream, picturesque horse farms, Sterling is a place people make their home and never leave.
The Sterling Fair in September is a highlight of the season with more than 30,000 people coming out the see the horse show, and best lambs, the biggest tomato or sunflower, the best quilt, or the horse and oxen pulls. A very special occasion.
About Judy Reynolds & the Evergreen Realty Team:
I have been a professional real estate consultant for almost 27 years as a small town independent Realtor. The use of cutting-edge technology and professional experience make my Team the very best in the area. The Evergreen Realty Team is dedicated to providing excellent service to our clients and customers. Our web site was first designed in 1994 and www.EvergreenRealty.com offers the best information and tools to assist you with all your real estate needs. As Quality Service Certified professionals, we look forward to assisting you.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
