Rochester MN Real Estate Market Blog

The Rochester Minnesota area residential real estate market started picking up steam last week with nearly twice as many new listings as the previous week. There were 36 new residential listings last week (January 20-26, 2012) with an average asking price of $225,959. With new listings outpacing those going under contract, residential housing inventory increased slightly [...]

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Signed contracts outpaced new listings last week, contributing to the continued reduction in housing inventory available for sale.  Last week’s 20 new residential listings had an average asking price of $229,627. The 25 homes that went under contract  last week (January 13-19, 2012) represented an increase of more than 70% over the same time period a [...]

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The Rochester, Minnesota housing market may have slowed way down in December, 2011, but overall the market improved over 2010. There were 9.9% more signed contracts and 6.5% more closings in 2011, an impressive sign given the absence of the Homeowner’s Tax Credit that boosted real estate activity in 2009 and 2010.  Another positive sign [...]

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It’s a new year and we’re heading into the spring market, typically the hottest selling time of the year. Early signs point towards the market heading in the right direction, with 30 new listings last week (January 6 to 12, 2012) and 25 signed contracts. Last week’s new residential listings had an average asking price of $174,768. [...]

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Signed contracts outpaced new listings in the Rochester Minnesota area housing market last week as we approach the end of the year and the inventory of homes for sale continues to drop. The number of homes going under contract last week (December 9 to 15, 2011) was up 38% over the same time a year [...]

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The seasonally reduced activity continued at typical levels last week in Rochester, Minnesota with 15 new listings, 19 signed contracts and 29 closings. The homes that went under contract last week (November 18 to 24, 2011) had an average asking price of $182,357 (median $158,000) and an average market time of just 167 days.  The new residential listings that came on the [...]

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From home ownership trends to predictions regarding future home prices, Rochester, Minnesota appears to be holding its own. The 2010 Census information is beginning to be released and, according to 24/7 Wall Street’s analysis of the data, Minnesota has the 2nd highest percent of home ownership (73%), second only to West Virginia. This analysis points [...]

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After a sharp drop-off in home sales in September, the number of pending listings stayed steady in October, with 114 homes going under contract, an increase of 16.3% over a year earlier. Compared to last year’s flurry of buyer activity and sharp drop-off following the end of the tax credit, Rochester, Minnesota home buyers have [...]

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The Rochester Minnesota area housing market slowed slightly last week with 20 signed contracts, 22 new listings, and 18 closings. The homes that went under contract last week (November 4 to 10, 2011) had an average asking price of $142,620 (median $142,200) and an average market time of just 69 days, indicating these homes were priced accurately from the outset.  [...]

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At the risk of sounding like a broken record (does anyone remember those?), the number of homes going under contract each week has remained at a fairly steady level for quite a while now. The average asking price for those homes with signed contracts, however, is trending downward.  Last week (October 28 to November 3, 2011) there were 27 residential [...]

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