Tewksbury Homes Sales Down, Condo Sales Up In October.
Nov 28, 2014 04:45PM ● Published by Bill Gilman
Sales of single-family homes in Tewksbury dropped off in October, though condominium sales rose sharply.
According to the latest report released by The Warren Group, just 23 homes sold in Tewksbury in October, down 25.8 percent from October 2013. For the year, 240 homes have sold through Oct. 31, thats up 2.6 percent over the same time period in 2013.
The average price of a home sold in Tewksbury in October was $319,000, that's down from $320,000 in October 2013, However, the average price of homes sold throughout 2014 in Tewksbury stands at $340,000, up 6.6 percent over the same time period in 2013.
Condo sales in Tewksbury enjoyed a strong October with 13 units sold. That's up 160 percent over October 2013. For the year, 149 condo units have sold locally, that's up a healthy 41.9 percent over the same time period in 2013.
The price of condos continues to rise. The average price of a unit sold in October was $250,000. Thats up 16.3 percent over October 2013. For the year, the average price of units sold has been $260,000, up 13.2 percent over the same time period in 2013.
Massachusetts home sales rose slightly by 1.4 percent in October, marking the first time sales have increased year-over-year since June.
A total of 4,404 single-family homes sold in October, compared with 4,345 a year earlier. Year-to-date, sales decreased by 2.7 percent, with 41,140 homes sold compared with 42,270 during the same timeframe last year.
"It is encouraging to see home sales inch their way up in October, after declines in seven of the previous ten months. These numbers reflect sales from late summer house hunting," said Timothy M. Warren Jr., CEO of The Warren Group. "Prices also increased slightly. For a year now, the entire market has been pretty flat. We have seen modest increases and modest decreases in both median prices and sales volume, but no big swings."
In October, condominium sales statewide increased 3.9 percent. A total of 1,799 condos sold in October, up from 1,732 a year ago. Year-to-date, condo sales were up slightly by 3.2 percent, rising to 17,666 from 17,117 during the same period last year.