Tewksbury Home And Condo Sales Continue White-Hot Trends

While Massachusetts single-family home sales climbed to their highest level in two years in June, Tewksbury home sales increased at an even highher rate, according to the latest figures from The Warren Group.

In August, 25 single family homes were sold in Tewksbury, that's an increase of a whopping 79 percent over August 2011. As of Aug. 31, 172 single family homes had sold in Tewksbury in 2012. That's an increase of 42 percewnt over the same time period a year ago.

Meanwhile, statewide sales rose almost 20 percent in August, with 5,118 single-family homes sold up from 4,262 a year earlier.

Second quarter home sales across Massachusetts totaled 13,560, a 28 percent increase from 10,595 in the second quarter of 2011, The Warren Group said in a press release.

"One more month of strong home sales confirm speculation that the housing market recovery is underway," said The Warren Group CEO Timothy M. Warren Jr. "Even though we are comparing to a slow August last year, the consistent sales volume of 4,000 to 5,000 in the past few months is a promising indicator."

State tear-to-date sales are up 24 percent at 31,733, compared to 25,581 during the same period a year ago.

Median Prices Dip Slightly in Tewksbury and Up Statewide

Both Tewksbury and Massachusetts as a whole saw the median sale price for a single-family home dip slightly last month.

In Tewksbury, the median sale price of a single-family home was $290,000, about a 3 percent drop from the $299,000 price in August 2011.

Statewide, the median price of single-family homes increased 1.6 percent to $310,000 in August, up from $305,000 a year earlier. 

Year-to-date, the median sale price for a single family home in Melrose is $284,000, a 3.7 percent drop from the $295,500 price over the same time period a year ago.

Statewide, the median price for homes sold January through August was $290,000, down 1.7 percent from $295,000 in the prior year.

"In past housing market recoveries, we've seen sales volume increase before prices followed," Warren said. "Perhaps these low prices will lure even more buyers into the market and bring a sustained recovery."

Condo Sales Also Skyrocket in Tewksbury and Statewide

As with single-family homes, Tewksbury saw a dramatic increase in condominium sales in August, mirroring the state trend.

Sixteen condos sold in Tewksbury in August, compared to nine sold in August of last year, a 77.8 percent increase.

Statewide condo sales increased almost 40 percent from a year earlier, with 2,432 sold in June up from 1,736 a year earlier.

Through Aug. 31, 91 condos had sold in Tewksbury compared to 59 over the same time period a year ago, 54.2 percent increase. Year-to-date condo sales are up almost 28 percent, rising to 13,040 from 10,173 during the same period last year.

Tewksbury's median condo sale price increased slightly in August to $234,450. That's up from $229,000 in August, 2011. The median condo price dropped 4.3 percent in August to $279,000, down from $291,513 a year earlier.

The year-to-date median price of condos in Massachusetts is $276,500, up about 4 percent from $266,000 a year ago.

Information from a Warren Group press release was used in this report.