Real Estate Market Conditions for Rochester Minnesota – Monday Morning Market Update

It’s officially fall and the Rochester Minnesota area real estate market just keeps moving along at a fairly steady pace. Last week (September 16 to 22, 2011) had 28  listings that went under contract and 32 new residential listings. Average asking price for the homes that went under contract ($214,332) slightly outpaced that for new listings coming onto the market ($202,631). The pending listings that went under contract had an average market time of 110 days.

For the second week in a row, Rochester Minnesota saw 22 closings on residential properties. These homes had an average sold price of $145, 237 — 97.1% of the list price but just 88.2% of the original asking price. Average market time for these homes was 108 days.

Total active listings of homes for sale in Rochester, Minnesota were down 23% last week compared to a year earlier. There are currently 844 active residential listings in Rochester, Minnesota. Average list price for these homes is $206,791; average market time to date is 166 days.

To view this past week’s area real estate activity, click here for new listings and click here for pended listings.

Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota

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