Rochester MN Area Residential Housing Market Conditions Update – December 2010

There were 107 new listings in November in the Rochester area, down 17% from the previous month, but on par with last November (106).  There were 92 residential properties with signed contracts last month, down slightly from October (98) and 15% higher than a year ago (80).  Average market time for these homes remained close to 21 weeks, more than three weeks longer than last year.

Total active listings continued to drop off in a seasonally-anticipated slowdown with 975 active listings in November, 2010.  Nevertheless, the market continues to favor buyers.  Interest rates are beginning to go back up after having hit historic lows, increasing the urgency to some buyers to make the move and lock in an incredibly favorable rate.

For the latest in local real estate stats make sure to check out http://www.shawnburyska.com/real-estate-statistics.php

Shawn Buryska ABR, CRS, GRI
Coldwell Banker Burnet Realty
507-252-6745
www.ShawnBuryska.com

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