Rochester MN Real Estate Market Blog

The number of homes going on and off the market continues to remain at about the same levels from week to week, but the homes that are selling are at the lower end of the price range. Last week (October 21 to 27, 2011) there were 26 residential properties that went under contract, a level that the market seems [...]

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Another steady week in the Rochester Minnesota housing market last week (October 14 to 20, 2011) with 27  listings that went under contract and 24 new residential listings coming onto the market. Average asking price for the homes that went under contract was $192,503, with new listings entering the market having an average list price of $200,920. The pending listings that went under contract [...]

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Another solid week for the Rochester, Minnesota area real estate market last week (September 23 to 29, 2011) with 22  listings that went under contract and 38 new residential listings. Average asking price for the homes that went under contract was $144,793; average market time for these homes was 115 days. The average list price for last week’s new listings was $193,752. There were 30 residential [...]

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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 [...]

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Following a short lull for Labor Day, the Rochester area real estate market was back to its recent pace last week (September 9 to 15, 2011) with 31 homes going under contract, just shy of the 36 new listings that came on the market. These new residential listings had an average asking price of $180,388. The 31 Rochester area pending [...]

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The Rochester area real estate market slowed down a lot last week, presumably as home buyers took a break for Labor Day weekend. Just 15 homes went under contract with only 8 closings in Rochester, Minnesota last week (September 2-8, 2011), a drop of 25% and 62% respectively compared to a year ago. Total active listings [...]

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There were 24% fewer active residential listings last week in Rochester, Minnesota compared to the same time period a year ago as seller activity remains lower. Homes that went under contract last week, as well as those that closed, had an average market time of around three months, much shorter than we’ve been seeing for [...]

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Last week was a tough one in the financial markets following the debt rating downgrades. Nevertheless, the resulting decline in mortgage rates could mean significant savings for home buyers. The interest rate on a 30-year mortgage fell to 4.32% last week, down from 4.39% a week earlier, according to Freddie Mac’s Primary Mortgage Market Survey. [...]

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  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 been more consistent with home sales achieving a more typical pattern. The number of Rochester, Minnesota homes going under contract is actually 4.6 percent ahead of last year at this time. [...]

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For a while now we’ve been seeing consistent buyer activity, with signed contracts continuing at a fairly steady level. There were 31  homes that went under contract in Rochester, Minnesotalast week (August 5 to 11, 2011). Average asking price for these homes is $167,629; average market time is 103 days.  New residential listings are also remaining at consistent levels with 44 [...]

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