Leominster, MA Real Estate

An Overview of The Community

The City of Leominster stands in Worcester County, Massachusetts about 48 miles northwest of the large metropolis of Boston. With a population of over 41,500 people and a total area of nearly 29 square miles, this mixed urban and suburban enclave attracts real property seekers desiring to work in the local area or commute to nearby communities. Residents enjoy easy access to a well developed local highway transportation system.

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The town occupies fairly level, elevated terrain overlooking the beautiful Nashua River. Most residential developments here sit on a plateau at an elevation of around 400 feet, a factor which may contribute to a reduced threat of flooding compared with lower-lying locales. Leominster's rich historic roots extend deep into the past; the town claims the iconic figure Johnny Appleseed as one of its earliest residents (although he spent most of his life in the Midwest, his mother gave birth to him while she lived in this Massachusetts community). Yet despite its close ties with previous eras, the housing market in this location has enjoyed steady, vigorous growth since at least the late 1990s. Extensive new construction has ensured home buyers enjoy a good selection of modern architectural styles. Numerous properties in the City maintain a trendy current appearance.

This part of Massachusetts offers many broad scenic vistas, plus colorful fall foliage displays. Residents access outdoor recreational opportunities, such as skiing and hiking, in nearby New Hampshire just a short drive to the north. They also visit nearby Leominster State Forest and Wachusett Mountain State Reserve, both located a few miles to the southwest. Extensive shopping and dining opportunities exist within local business districts, and in surrounding communities, too.

The City adjoins a municipal airport owned by the nearby town of Fitchburg. Residents can also access air transportation by driving south along Interstate 190 into the city of Worcester about 30 miles away. With a well-developed roadway infrastructure, this community furnishes a variety of transportation options. State Route 2 passes through the community in an east-west direction, offering direct access to the Greater Boston Area.

This community offers its residents ready access to both private and public schools. Pupils enrolled in the public school system can attend elementary school, middle school, and high school entirely within the City. Students of college age, and other adult learners discover a number of academic and technical training institutions within the immediate vicinity. Fitchburg State College and Atlantic Union College both conduct classes within easy commuting distance of this community.

The city enjoys a lower crime rate than many comparably sized towns in Massachusetts. Residents access a well-developed medical infrastructure, which includes a number of health care facilities. For instance, a well-equipped local hospital treats patients, and also offers a helicopter port for emergency transports. Long term nursing care and rehabilitation facilities also serve residents locally.

Some neighborhoods in this location reportedly have appreciated at double digit rates recently, and the available inventory of listings on the marketplace here has trended downwards with increased demand. Considerable variability exists in terms of the public interest in specific houses, however. In some cases, sellers marketing older homes have dropped listing prices in order to lessen the anticipated number of days on the market.

Single Family Houses For Sale or Lease

Home buyers will discover many attractively priced options for obtaining single family housing in this area. For instance, some sellers offer lots designated for the construction of single family dwellings. Additionally, customers may purchase trailer homes, modular homes, and conventional wood frame homes.

The local marketplace for standalone housing units includes both older residences dating from previous decades (as you might expect in such an historic community), plus a great selection of new houses in a variety of contemporary styles. Many of these units include attached double garages and generously sized yards with mature landscaping. Quite a number offer multiple bedrooms and baths. Prices range from the low $100,000 range to well over $700,000.

Currently, a growing number of sellers in this location opt to supply kitchens fitted with major appliances. The presence of a refrigerator, a stove, and a dishwasher appeals to many buyers seeking previously owned real property. Some sellers also choose to sell installed wood burning stoves with their homes. Available properties vary widely in terms of the amenities which remain attached to the realty; sellers and buyers may wish to negotiate about this issue.

In general, recently constructed houses in good condition tend to command higher prices than comparably sized older properties requiring refurbishment or significant repairs. Newer houses typically possess a far longer anticipated useful life. Additionally, wood frame or brick structures in this city will typically sell for more than trailer homes or modular houses. Elements such as the floorplan, the available amenities, and the overall condition of the property usually factor into a seller's asking price.

Condos And Townhouses For Sale or Lease

During recent years, developers have constructed both condos and attached townhomes in this city. Although typically a little less expensive in price than houses, these units nevertheless reflect considerable price variability. Prospective buyers should check in advance to learn specific information about issues such as monthly or quarterly homeowner association fees, pet policies, dedicated parking, and the presence (or not) of additional storage options.

These types of residential communities frequently appeal to buyers because they usually require reduced (or no) personal annual maintenance responsibilities. In many cases, the monthly fees will cover gardening, landscaping, and janitorial services performed by designated providers. Homebuyers who seek reduced property management tasks may benefit by selecting a condo or townhouse in a well-managed community. This option today frequently appeals to busy people with little time to invest in maintaining a property.

Some townhomes offer dedicated, fenced backyards and patios. Additionally, townhome and condo residential communities may supply a variety of in-demand communal amenities, such as hiking and biking trails, community centers, game rooms, business centers, or swimming pools. Since these features vary from one development to another, anyone considering purchasing one of these properties may find it helpful to discuss their requirements in detail with a realtor. An agent may help customers target a condo or townhome search effectively to focus upon those properties offering the types of specific group amenities desired by the home seekers.

Condominium and townhome units in this city include both properties in older multi-story buildings converted to a residential use, and communities built on extensive tracts specifically as new residential living centers. The sizes of available listings, just like unit prices, reflect wide variability. In addition to single bedroom and single bathroom units, customers sometimes discover three, four or even five bedroom multi-bath properties in this category. Some developers offer to build new units to accommodate buyer floor plan specifications.

This marketplace include both brand new residential communities currently undergoing construction, and a healthy selection of previously owned units within well established residential communities. In general, in some cases you should anticipate paying slightly more for a custom-built new condo or townhome than you will likely spend for units designed and marketed by the developer for immediate occupancy (although exceptions do exist). Property buyers sometimes locate attractive bargains by maintaining a flexible attitude while searching for condos or townhomes; in some cases, significant price differences exist between available floorplans within the same development.

Additionally, residential communities supplying a number of luxurious group amenities will usually command steeper prices and higher monthly homeowner dues than communities lacking these features. Constructing a luxury residential community may require a significant investment in land and building materials. Prospective buyers may find it helpful to focus their attention upon units in residential communities which contain group amenities they desire.

As you explore available condos and townhomes in this city, consider requesting assistance from Boston City Properties. We'll gladly help both property sellers seeking to list units for sale and buyers hoping to purchase homes in residential communities. You can depend upon our agents to perform skilled property listing searches for you. We'll also clarify any questions you have concerning available terms and homeowner association policies and requirements.

Apartments

The market for new rental apartments in this city does not appear to have maintained pace with the market for trailer, house, condo and townhome construction in some parts of the city. While several apartment complexes offer units here, people seeking rental apartments may need to search diligently to find housing meeting their size, floorplan or amenity preferences. In some cases, homeowners offer apartments for rent in subdivided older houses.

Supply and demand factors may result in apartment seekers paying slightly higher rents for comparably sized units here. Prices extend across a broad spectrum, however. In some instances, it costs nearly as much to rent a conventional apartment as a previously owned condo or townhome unit.

Landlords will typically ask renters to provide both a security deposit, and a completed application. Waiting lists may exist for some units in choice locations. Apartment communities in the city also often offer emergency maintenance services, providing greater convenience for tenants if repair problems arise.

Policies with respect to pets vary widely. Some apartment communities in the city maintain pet-friendly rules. Additionally, a few of these residential complexes supply dedicated facilities for children, such as designated playground areas and supervised after school programs, while others do not. Households searching for rental apartments should inquire carefully about these issues in advance.

In general, the rental fee charged for a large multi-bedroom and multi-bathroom apartment will exceed rates sought for efficiency or single bedroom, single bathroom units of comparable size and age. Apartments in new, well-maintained buildings also tend to command higher rents than units in older properties, or properties requiring frequent maintenance. Additionally, landlords will usually charge slightly higher prices for fully furnished apartments.

Since this region usually receives snowfall during colder months, apartment seekers may choose to search for units in complexes supplying dedicated garages or car ports. Considerable variation exists with respect to the availability of this feature from one place to another. In some buildings, landlords simply designate parking areas; in others, management assigns specific parking spots to individual units within the building.

Locating Real Property in This Marketplace

Recently, median home values across all types of housing in this marketplace stood at just over $219,000. Some market analysts projected a mean growth rate of around 3.5% annually, although considerable variation appears to exist within the city based on property location and age. The price of individual housing units varies, of course, influenced by many factors. In addition to the location and the date of construction, important pricing elements may include the architectural style, the building materials, the size, the condition, and the presence of sheltered parking.

Most properties here remain available for sale or lease on the market for a period of at least 84 days. Price decreases may reduce marketing time in some situations. Home values recently have risen to around $146 per square foot, although this figure may change over time due to variable supply and demand factors.

Residential property in the community typically costs far less than for comparably sized units in nearby Shirley and Lunenburg, two towns lying just a short distance to the east. The lower ranges of prices here may appeal to commuters willing to travel a little further in order to enjoy more affordable realty prices. Residents possess a great selection of houses, condos, townhomes, and apartments, enabling them to choose their living environment to meet personal lifestyle goals.

Although subject to change, during 2016 average gross rents across all types of housing hovered in the upper $800 range. (This figure represents an average statistic encompassing every type of available rental housing in the city, including detached houses, condos, townhouses and rental apartments.) The specific type of housing selected by a renter will impact the actual price, of course.

Request Information

Boston City Properties offers real estate services throughout Leominster and its environs. If you plan on listing real property for sale or lease here, or if you'd simply like to search for a home in this community, we can help! Obtaining assistance from knowledgeable, experienced realty industry professionals may allow you to optimize your investment activities. Our company supplies a full range of services. We'll assist you in marketing your property, or in locating a suitable new residence. We possess familiarity with this lovely part of Massachusetts.

To request personal assistance from us now, simply use the convenient online contact form. You may also call us directly at 617-247-1933. We'll do everything we can to facilitate your experience as you seek to market or buy property in this community. With its rich history and lovely, unique setting, Leominster offers some wonderful home values. You won't regret your decision to count on our company to assist you!

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