Rochester MN Real Estate Market Blog

The media has made much to-do about the housing crisis but is it really a crisis at all?  Yes real estate sales have been down slightly in the Rochester area for about the past 18 months but that is coming off the heels of almost 10 years of unprecedented growth.  Prices in the Rochester area [...]

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Last week, the stock market declined and mortgage rates fell, as investors worried about Fannie Mae and Freddie Mac and oil prices reached record highs. In a pivotal reversal, the opposite took place this week. With increased confidence in the financial sector and lower oil prices, the Dow gained over 400 points. As investors returned [...]

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There were 35 new listings last week in Rochester, MN (avg list price of $221,047, median $159,900) and 19 listings coming back on the market (avg list price of $233,205, median $179,900, avg of 275 days on the market).
Last week (June 30 to July 6, 2008) 25 listings went under contract to pending with an [...]

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July already!
There are currently 1096 homes for sale in Rochester, MN with an average list price of $240,352 and average market time of 151 days.
Last week (June 23 to 29, 2008) 34 homes sold (went under contract to pending) with an average list price of $168,572 and 116 days market time. There were 54 closings; [...]

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