Rochester MN Real Estate Update (Week of January 22-28, 2007)

There are currently 1000 homes for sale in Rochester, Minnesota with an average list price of $247,685 and average of 184 days on the market. Last week (January 22 to January 28, 2007) there were 55 new and back on the market listings with an average list price of $227,592 and average market time of 37 days. During this same time period 34 homes went to pending (under contract). The average list price of these homes was $188,359 with an average of 114 days on the market. There were 25 closings in Rochester residential real estate last week, with an average price of $161,929 and 125 days on the market. Last week 34 listings expired; the average asking price was $190,865 with an average of 99 days on the market.