Rochester MN Real Estate Market Blog

There are 1165 current active listings in the Rochester Residential Housing Market with an average price of $253,805 and average market time of 139 days.
In Rochester last week (June 19-June 25) 61 homes went to pending (under contract) with an average price of $188,564 and an average market time of 110 days. There were 61 [...]

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Northwest Rochester

New Listings
May 2005
May 2006

#
178
179

Avg. Price
$183,654
$195,150

Avg. Days on Mkt
50
52

To Pending
May 2005
May 2006

#
136
128

Avg. Price
$172,073
$185,300

Avg. Days on Mkt
63
95

Northeast Rochester

New Listings
May 2005
May 2006

#
49
60

Avg. Price
$265,505
$267,008

Avg. Days on Mkt
49
37

To Pending
May 2005
May 2006

#
38
34

Avg. Price
$211,325
$214,732

Avg. Days on Mkt
110
102

Southwest Rochester

New Listings
May 2005
May 2006

#
84
70

Avg. Price
$270,818
$330,616

Avg. Days on Mkt
58
55

To Pending
May 2005
May 2006

#
47
56

Avg. Price
$269,651
$278,076

Avg. Days on Mkt
87
156

Southeast Rochester

New Listings
May 2005
May 2006

#
66
73

Avg. Price
$152,120
$166,164

Avg. Days on Mkt
50
32

To Pending
May [...]

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The Rochester area housing market began its seasonal slowdown in May with 380 new and back on the market listings, a decrease of 5% from the previous month. There were 245 homes going to pending (under contract) in May, down 16% from the previous month. The Rochester housing market continues to favor buyers with 1/2 [...]

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Home sales in the Twin Cities, Minnesota area tumbled for the second straight month in May, while median home-price growth continued to slow, according to three metro Twin Cities Realtor associations.
Realtors reported 5,039 closed home sales last month, down 9.3 percent from 5,553 closed sales in May 2005. During the same period, the median home [...]

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Overall mortgage applications tumbled 1.4 percent last week on a seasonally adjusted basis from the week before, as refinancings fell for the third consecutive week, the Mortgage Bankers Association reported today.
The seasonally adjusted purchase index increased slightly to 395.6 from 395.5 the previous week whereas the refinance index decreased by 3.8 percent to 1,356 from [...]

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Today’s news of slowing job and wage growth has mortgages in retreat from another run towards 7 percent, and the 10-year T-note down to 5.01 percent from a 5.2 percent May high. A Fed pause at its June 29 meeting is again a medium probability.
The most accurate housing-market numbers come from OFHEO’s House Price Index, [...]

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