Tewksbury Home Sales

During the past 12 months, there were 202 single family home sales in Tewksbury, Massachusetts vs 153 sales for the previous 12 month period. While sales were up by almost 25%, the average sale price only went up slightly (about 1%) from $327,279 to $329,471. To me, this shows some weakness in the market. If sales are up by 25%, prices should rise more than 1%. But we all know about the high unemployment rate and the weak consumer confidence level. Nevertheless, I conclude that we are moving in the right direction.

At present, there are 83 single family homes on the market with an average list price of $364,652. Based upon the average of 108 days on the market, it will take 5 months to sell the average home at the average list price.