It's Official, Tewksbury Real Estate Market Is Turning Around

Those who follow real estate in Tewksbury saw the writing on the wall in July. A market that had become something akin to a pile of dry bones last year was starting to show signs of life.

The anecdotal evidence was verified this past week when the Warren Group release Massachusetts home sale figures for July.

There were 30 single-family homes sold in Tewksbury in July. That's a jump of 87.5 percent over July 2011. For the year, 147 single-family homes have been sold in town. That's an increase of 37.9 percent over the period from Jan. 1-July 31, 2011.

The median price for a home sold in Tewksbury in July was $336,200, an increase of 13 percent. Year-to-date, the median price for homes sold in Tewksbury is down 3.1 percent over 2011.

The condo market has rebounded in a similar way.

There were 15 condo units sold locally in July. That's a jump of a whopping 200 percent over July 2011. Year-to-date, 75 condos have been sold in Tewksbury, an increase of 50 percent over 2011.

Condo prices, however, have been dropping. The median price for a condo that sold in July was $239,900. That's down $36.9 percent from July 2011. Year-to-date, the median sale price for a condo in Tewksbury has been $224,900. That's down 1.5 percent from 2011.

The positive trending in Tewksbury is typical for the state. Across Massachusetts, single-family home sale in July were up 27 percent over July 2011. And condo sales were up 34 percent over July 2011, according to The Warren Group.