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Home Sales In Tewksbury, Across State, Dip Slightly In May

Jun 25, 2015 05:35AM ● Published by Bill Gilman

Single-family home sales in Tewksbury and across Massachusetts decreased in May by 2.6 percent, according to a new report from The Warren Group, publisher of Banker & Tradesman. This marked the third time sales have decreased in 2015.

A total of 4,369 single-family homes were sold in Massachusetts in May compared with 4,487 in May 2014. Year-to-date sales declined by 1.8 percent with 15,210 homes sold compared with 15,494 during the same period last year. 

"Most of these May closings went under agreement at the start of the spring selling season in March," said Timothy M. Warren Jr., CEO of The Warren Group. "We won't see the peak sales numbers until the middle of summer in July."

In Tewksbury, single family homes sales in May dropped 7.1 percent compared to May 2014. Through the first five months of the year, 59 homes have been sold in Tewksbury, that's up 9.3 percent over the same time period in 2014.

The median sales price of single-family homes in the Bay State was $290,000 in May, up 17 percent from the same month in 2014. But year-to-date, prices dropped 2.9 percent to $264,000 compared with $271,950 during the same period last year.

The median sales price of single-family homes in Massachusetts was $340,000 in May, unchanged from the same month in 2014. Year-to-date, prices rose by 1.9 percent to $325,000 compared with $319,000 during the same period last year.

Condominium sales fell in May with a total of 2,023 transactions completed compared with 2,146 in May 2014. May marked the seventh consecutive month condo sales have decreased on a year-over-year basis. Year-to-date sales were also down by 6.0 percent with 6,732 sales completed during the first five months of this year compared with 7,161 recorded during the same period last year. 

Condo sales in Tewksbury dropped 16 percent in May, with just 21 units being sold. Through the first five months of the year, 78 units have been sold, down 10.6 percent over the same time period in 2014.

The median cost of a condo sold in Tewksbury in May was $365,000, up 7.4 percent over May 2014. The media price of the units sold through the first five months of the year was $330,750, down 1.3 percent over the same period in 2014.
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