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Tewksbury Real Estate Market Gains Strength; Sales, Prices On The Rise

Jul 30, 2014 03:14PM ● By Bill Gilman

The Real Estate market in Massachusetts continues to rebound.

The once-soft real estate market continues to rebound in Tewksbury and across the state.
According to statistics published by The Warren Group, 37 single-family homes were sold in Tewksbury in June. That's an increase of 32.14 percent over June 2013.
For the year, 124 single-family homes have sold in Tewksbury, up 6.9 percent over the same time period in 2013.
The price for the homes being sold is also on the rise. According to the Warren Group, the median price for single-family homes sold in Tewksbury in 2014 is $339,906. That's up 7.1 percent over a year ago.
The sales report is not quite as strong for Condo sales but the prices are also on the way up.
According to the report, 20 condo units were sold in Tewksbury in June, bringing the total to 74 for the year to date. That's an increase of just 1.37 percent over 2013.
However, condo sale prices have jumped 16.8 percent to an average sale price of $265,000 thus far in 2014.
The strengthening of the Tewksbury Real Estate market mirrors improvements across the state. According to the Warren Group report, single family home sales rose 3.7 percent in June compared to June 2013. For the year, sales remain down 1.8 percent.
Condo sales, however, increased by 11 percent in June and have jumped 9.7 percent year to date.
Prices are up for both single family homes and condos across the state. The median price for a single family home sold in June was $359,900, up 2.8 percent over June 2013. Year-over-year, median sales prices have increased each month since October 2012.
Prices are up 4.7 percent year to date, with the median price of a home sold in Massachusetts in 2014 at $329,900.
Condo prices also showed a significant increase. The median price for a condo sold in the Bay State in 2014 is $310,000. That's up a whopping 8.7 percent over the same six-month time period a year ago.

Click here to check out all the homes, condos and foreclosures available for purchase in Tewksbury by browsing the Your Tewksbury Today Real Estate Section.

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