Is Tewksbury, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Tewksbury has remained a Seller's Market.
Key Takeaway
Tewksbury is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Tewksbury, MA
How much do homes in Tewksbury, MA cost?
Median Sold Price
$607,000
$361/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tewksbury have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Tewksbury was $607,000 in May 2024, up 5.3% from last year, and the median price per square foot was $361.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $397.5K | - | N/A |
| 2 Bedrooms | $441K | $471.7K | +7.0% |
| 3 Bedrooms | $589K | $620K | +5.3% |
| 4 Bedrooms | $695K | $695.7K | 0.1% |
| 5+ Bedrooms | $755K | $720K | -4.6% |
Summary: Tewksbury housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes decreased by 4.6%.
Median Sold Price Compared To Nearby Cities
| Lowell | $430K | $469.9K | +9.3% |
| Tewksbury | $576.6K | $607K | +5.3% |
| Wilmington | $669.9K | $700K | +4.5% |
| Andover | $850.3K | $871.6K | +2.5% |
| North Billerica | $635K | $645K | +1.6% |
Housing Supply in Tewksbury, MA
How many homes are available in Tewksbury, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 85 | 94 | +10.6% |
Summary: The Tewksbury real estate market had 94 homes for sale in May 2024, a 10.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 26 | 28 | +7.7% |
| 3 Bedrooms | 25 | 32 | +28.0% |
| 4 Bedrooms | 28 | 28 | 0.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Tewksbury housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 28%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 35 | +52.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tewksbury, you could pay more than the asking price. 68.6% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in Tewksbury in May 2024, up by 52.2% month-over-month. Of the 35 sold homes, 26% were sold under asking, 6% were sold at asking, and 69% were sold over asking.
Days on Market for Tewksbury, MA
How long does it take to sell a home in Tewksbury, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 22 Days | +69.5% |
Summary: Homes in Tewksbury had an average of 22 days on market in May 2024, up by 69.5% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Tewksbury are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 35 homes were sold in Tewksbury; 91% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
