Rochester MN Tuesday Morning Real Estate Update

There are currently 1127 homes for sale in Rochester, Minnesota with an average list price of $248,533 and average of 160 days on the market. Last week (October 16 to October 22, 2006) there were 67 new and back on the market listings with an average list price of $188,409 and average market time of 74 days. During this same time period 27 homes went to pending (under contract). The average list price of these homes was $169,484 with an average of 124 days on the market. There were 34 closings in Rochester residential real estate last week, with an average price of $187,472 and 147 days on the market. Last week 52 listings expired; the average asking price was $199,951 with an average of 104 days on the market.