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Weather Causes Tewksbury Home Sales To Plunge In February; Prices Remain Steady

Mar 25, 2015 06:26PM ● By Bill Gilman

Tewksbury continues to defy state trends when it comes to homes sales, but in February, this was not a good thing.

Single-family home sales in Massachusetts rose almost 4 percent in February, according to a new report from The Warren Group, publisher of Banker & Tradesman. 

There were 2,166 single-family homes sold statewide in February, compared with 2,083 in February 2014. Year-to date, sales were up slightly by 0.7 percent with 4,854 homes sold compared with 4,819 sold during the same time last year. 

However, in Tewksbury, single family home sales dropped 23 percent in February, compared to March 2014. Sales are down 6.45 percent through the first two months of 2015, compared to the same time period a year ago. The drop is blamed largely on the record-setting snowfall that hit the Merrimack Valley in February, much of which fell on weekends.

The median sales price of a single-family home in Massachusetts in February increased by 8.2 percent to $310,000 from $286,500 last year. This is the fifth consecutive month that median prices have increased. 

In Tewksbury, the media price of a single family home sold in February was $
330,450, virtually unchanged from a year ago.

Condo sales for Massachusetts in the month of February fell by 1.3 percent with 935 condos sold compared with 947 sold in February 2014. This marked the fourth consecutive month of decreases in condo sales. Year-to-date, condo sales decreased by 6 percent to 1,966 condos sold compared with 2,092 in the same timeframe last year.

In Tewksbury, February condo sales rose $12.5 percent over a year ago. But through the first two months of the year, sales are down just over 14 percent from the same period in 2014.

The median condo price in the Bay State climbed by 2 percent to $286,000 compared with $281,000 in the same month last year. Year-to-date, condo prices climbed by 1.5 percent to a selling price of $294,250 compared with $290,000 in the same time period last year.

In Tewksbury, the median sale price for a condo through the first two months of the year is $404,950. That's an increase of 52.8 percent over the first two months of 2014.

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