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Tewksbury Real Estate Sales Continue To Defy State Trends

Sep 25, 2014 02:14PM ● By Bill Gilman
Tewksbury continues to defy state trends when it comes to Real Estate.
Sales of Massachusetts single-family homes fell 6.6 percent in August, marking the sixth time sales have decreased year-over-year in 2014, according to the latest report by The Warren Group, publisher of Banker & Tradesman.
However, 33 single-family homes were sold in Tewksbury in August, a jump of 13.3 percent over August 2013. For the year, 193 homes have been sold through Aug. 31 in Tewksbury, an increase of 7.8 percent over the same time period in 2013.

By comparison,  year-to-date Massachusetts sales were down 3.1 percent at 32,382, compared with 33,399 during the same period a year ago.
"Home sales volume has been a bit disappointing all summer," said The Warren Group CEO Timothy M. Warren Jr. "As reported in this week'sBanker & Tradesman, there is a discrepancy between the increase in pending sales and the number of closed sales transactions. It could be due to tough mortgage underwriting standards or cold feet after a rushed offer."

The median price of a Massachusetts single-family home increased almost 2.0 percent in August, to 349,000, up from $342,300 a year earlier. The median sales price has increased each month year-over-year since October 2012.

Home prices in Tewksbury also jumped 3.1 percent in August, to a median of $340,250.

Condominium sales continue to soar in Tewksbury, flying in the face of a downturn across the state.
In August, condominium sales statewide decreased 15.3 percent. A total of 2,101 condos sold in August, down from 2,479 a year ago. This marked the highest percentage decrease of condo sales since December 2011 when there was a 15.6 percent decrease. Year-to-date, condo sales were up slightly by 2.7 percent, rising to 13,929 from 13,559 during the same period last year.
In Tewksbury, 21 condos were sold in August, up a whopping $133.3 percent over August 2013. For the year, 119 condos have been sold in Tewksbury, up 29.3 percent over the same eight months in 2013.

The median price of a condo sold in Tewksbury this year has been $250,000. That's up 9.2 percent over 2013.
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