Rochester MN Real Estate Market Blog

Hope everyone had a great Presidents’ Day!

There are currently 873 residential properties for sale in Rochester, Minnesota.  The average list price for these properties is $226,686 (median $176,500) and average market time is 181 days.

There were 69 new listings last week (February 9-15, 2009) and 15 that came back on the market.  Average asking price was $230,757 (median $184,900) and $246,833 (median $199,900) respectively.

Last week 29 residential homes went to pending (under contract) with an average list price of $238,256 (median $199,900) and an average of 160 days on the market.  The 3 homes that closed (sold) last week had an average sold price of $134,966 (median $75,000), which was 97.6% of the asking price, 89% of the original list price.  These properties had an average of 71 days on the market.

One listing was withdrawn, 11 cancelled, 5 expired, and 20 were extended last week.

Related posts:

1. Monday Morning Rochester Real Estate Market Update
2. Local Real Estate Market Conditions for Rochester, MN (week of 11/3-11/9/08)
3. Rochester MN Residential Real Estate Market (Aug 11-17, 2008)
4. Monday Morning Rochester Real Estate Market Update
5. Monday Morning Rochester Real Estate Market Update (Jan 12, 2009)