Prices Stay Low, Homes Sales Strong In Tewksbury, Across Mass.
With prices and interest rates low, sales of single-family homes and condos are booming in the Bay State.
House hunters looking for bargains are having a field day in Tewksbury and across Massachusetts, as the once-floundering housing market continues to rebound in a huge way.
According to statistics published by The Warren Group, 19 single-family homes sold in Tewksbury in October. That's a jump of 72.3 percent over October 2011.
A total of 212 single-family homes have sold in Tewksbury in 2012 (through Oct. 31). That represents a whopping 36.8 percent increase over the same 10-month time period from 2011.
The news is just as good in the condo market. According to The Warren Group, eight condos sold in Tewksbury in October. That's a 100 percent increase from October 2011.
Through Oct. 31, 114 condos had sold in Tewksbury in 2012, a leap of 60.6 percent over the same 10-month period in 2011.
Throughout Massachusetts there was a jump in home sales during October, The Warren Group reported. Sales of single-family homes were up 21 percent, compared to October of 2011, and sales of condos were up 48 percent.
The reason for the housing boom is clear. Mortgage rates are hovering between three and four percent and home prices are at bargain basement levels.
According to The Warren Group, the median price of condos sold in Tewksbury in October was $201,500. That's down 16.9 percent from a year ago. The Median price of single-family homes sold in Tewksbury in October was $337,000. That's down 5.1 percent from a year ago.