2196 William T Circle is currently in-contract contingent upon financing & inspections. The buyers generally have 10 days to have professionals inspect and prepare reports for them to show the condition of the property. If there are any problems found, the buyer(s) have a few more days to negotiate with the seller(s) to see if they will remedy any of the more serious problems. If no agreement can be reached, the buyers have the option of moving forward and taking care of the problems themselves or they can nullify the contract. It is also possible their financing may not receive final approval due to the inspection problems and/or a personal shift in the buyer(s) financial situation like a job lay-off, death in the family, etc. No property is 100% assured a closing until all paperwork is completed, signed and funds distributed. So, in short, there is always a possibility of a property coming back on the market.
As to other condo complexes in Lancaster, the demand is less than single-family homes. According the Lancaster MLS, there were 19 condos sold in Lancaster during 2012. Eleven in the NE area and eight in the NW area. Average price for NE was $147,015 and for NW $71,038. Average days on market were 178 for NE and 209 for NW.
I hope this answers your questions and if you would like any additional information, please feel free to contact me personally.
Lyn Nelson, ABR