Rochester MN Real Estate Market Blog » Rochester MN Homes for Sale

Enhanced Market Snapshot!

admin — Mon, 21 Dec 2009 22:20:02 +0000

I have had a feature on my website for quite sometime called Market Snapshot. This feature allows anyone who is interested in real estate activity, new listings, home sales, etc. in the Rochester Minnesota area the ability to watch the local multiple listing service (MLS) activity relative to their home or a home they might be looking for. The enhancement comes in the form of a much more robust database tied directly to the local MLS which ensures all properties are displayed. To check it out, click HERE and get all of your questions answered about the local market place. If you would like a personalized professional market analysis of your house at no cost or obligation click HERE for more information.

Monday Morning Market Update for Rochester, MN

admin — Tue, 17 Mar 2009 02:02:51 +0000

Happy Monday!

There are currently 1035 residential properties for sale in Rochester, Minnesota with an average asking price of $226,907 (median $174,900) and an average of 155 days on the market.

Last week (March 9 through 15, 2009) there were 73 new listings and 9 listings that came back on the market. Average list price for these properties was $187,119 (median $159,900) and $187,366 (median $160,000) respectively.

There were 29 listings that went under contract (to pending) last week. Average asking price was $170,116 (median ($164,900) and average market time was 88 days.

The 11 homes that sold (closed) last week had an average sold price of $180,556 median ($151,500), 97.78% of the list price, 91.54% of the original list price. These properties had an average of 101 days on the market.

Four listings were withdrawn last week, 8 canceled, 11 expired, and 8 were extended.

Monday Morning Market Update for Rochester, MN

admin — Tue, 10 Mar 2009 02:02:14 +0000

Last week (March 2-8, 2009) 21 homes sold in Rochester, Minnesota. The average sold price of $188,948 (median $143,600) was 96.35% of the average list price, 88.31% of the original asking price. These homes had an average market time of 140 days.

There were 90 new listings last week and 19 properties that came back on the market. The average list price for these properties was $212,507 (median $174,900) and $199,715 (median $169,900) respectively.

Last week 27 homes went to pending (under contract) with an average price of $180,978 (median $156,900) and an average of 135 days on the market.

Seven listings expired, two were withdrawn, 12 canceled, and 14 were extended.

There are currently 997 active residential listings in Rochester. Average price is $229,302 (median $175,000) and average market time is 158 days.

Market Update for Rochester Minnesota

admin — Wed, 04 Mar 2009 02:01:45 +0000

There are currently 931 residential properties for sale in Rochester, MN with an average list price of $230,608 (median $176,500) and an average market time of 165 days.

Last week (February 23 through March 1, 2009) there were 74 new listings and 6 that came back on the market. Average list price for these properties was $211,671 (median $159,900) and $223,183 (median $194,900) respectively.

There were 32 homes that went to pending last week (under contract). Average list price was $178,730 (median $144,900) and average market time was 151 days.

The 41 homes that sold (closed) had an average sold price of $155,720 (median $137,500), which was 97.22% of the list price, 91.5% of the original asking price. These homes had an average of 137 days on the market.

Fourteen listings were canceled last week, 13 expired and 18 were extended.

Real Estate Update for Rochester MN

admin — Wed, 25 Feb 2009 02:01:16 +0000

There are currently 912 residential properties for sale in Rochester, Minnesota with an average list price of $228,150 (median $175,000) and an average of 174 days on the market.

Last week (February 16-22, 2009) 16 homes sold (closed). The average sold price of $156,554 (median $133,500) was 97.71% of the asking price, 90.96% of the original list price. The average market time for these homes was 136 days.

Twenty-eight homes went under contract (to pending) last week with an average list price of $176,503 (median $159,900) and an average of 130 days on the market.

There were 75 new listings last week and 13 that came back on the market with average list price of $214,065 (median $159,900) and $160,449 (median $164,900) respectively. Two listings were withdrawn, 10 cancelled, 6 expired and 18 were extended.

Rochester MN Real Estate Market Update

admin — Wed, 18 Feb 2009 02:00:40 +0000

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.

Monday Morning Rochester Real Estate Market Update

admin — Tue, 03 Feb 2009 01:59:30 +0000

Happy Groundhog Day!

There are currently 812 homes for sale in Rochester, Minnesota. The average asking price for these properties is $227,055 (median $178,000) and average market time is 193 days.

Last week (January 26, 2009 through February 1, 2009) there were 839 residential properties for sale in Rochester, MN, with an average list price of $227,321 (median $177,900) and average market time of 188 days.

There were 30 new listings and 13 that came back onto the market last week. Average list price was $226,063 (median $189,900) and $199,942 (median $157,900) respectively.

The 28 homes that went to pending (under contract) last week averaged 124 days on the market and $168,562 asking price (median $159,900). The average sold price for the 14 homes that closed was $178,678 (median $152,400), 95.94% of the original list price, 99.57% of the asking price. Average market time for these homes was 118 days.

Last week one listing was withdrawn, 12 canceled, 8 expired and 24 were extended.

Monday Morning Rochester Real Estate Market Update

admin — Tue, 27 Jan 2009 01:58:58 +0000

Good morning!

There are currently 823 residential properties for sale in Rochester, Minnesota. The average list price for these properties is $224,992 (median $175,000) and average market time is 190 days. Last week (January 19 to January 25, 2009) there were 846 residential properties for sale (average list price $225,607, median $175,000, 186 days on the market).

Last week 22 homes went to pending (under contract) with an average price of $163,045 (median $159,900) and 111 days on the market. There were 37 new listings, averaging $223,754 (median $164,900), and 17 listings came back on the market (average $271,723, median $249,900, 334 days on the market). Six listings expired, 3 cancelled, and 4 were withdrawn.

The average sold price of $165,870 for the 12 homes that sold (closed) last week was 88.71% of the list price, 81.59% of the original asking price, underscoring the need for realistic pricing in the current market. These properties had an average of 94 days on the market. The average list price was $186,979 (median $130,900).

Happy New Year!

admin — Fri, 02 Jan 2009 01:53:00 +0000

With the 2008 real estate market behind us I’m looking forward to 2009. With interest rates at all time lows I’m anticipating an early start to our sales season which usually builds to full steam in March. In the next few days I will have actual sales stats for 2008. So far we know that sales and new listings were down about 15% and prices have dropped but moderately compared to the rest of the country. Look for an update to this blog in the coming days for those numbers. My predictions for 2009 will be for a continued but moderate loss of value. We will see the brunt of the foreclosures hit the market in 2009 and that will be good news or bad depending on which side of the transaction your’re on. Good news for buyers looking at the best affordability index in years. Bargain prices on these foreclosure homes for sale along with bargain interest rates make this an irresistible time to buy. Sellers on the other hand will be competing with these foreclosure homes and their prices will be need to be adjusted accordingly in order to remain competitive. The foreclosure market will affect all price ranges as well. There a couple near million dollars homes being offered by banks at this point in time. Barring any major job market changes, I also think we are at the bottom of our sales losses and I anticipate a sales rate to be on par with last year.

Local Real Estate Market Conditions for Rochester, MN (week of 11/3-11/9/08)

admin — Wed, 12 Nov 2008 01:50:20 +0000

The stock of homes for sale in Rochester, Minnesota continued to drop last week. There are currently 905 residential properties actively for sale in Rochester, with an average list price of $227,140 (median $176,500) and an average of 164 days on the market. Last week there were 42 new listings (avg. list price $198,066, median $159,900) and 16 that came back on the market (avg. list price $197,593, median $155,900).

Thirty-one residential properties went to pending (under contract) last week. Average asking price for these properties was $191,293, with a median asking price of $174,900. It took an average of 110 days on the market for these homes to go under contract.

Last week 16 residential listings cancelled, 10 expired, and 13 were extended.

The 17 homes that sold (closed) last week had an average sold price of $205,500 (median $182,900), an average of 97.76% of the asking price and 93.26% of the original list price. This close margin of sold price to list price at time of sale illustrates the extreme importance of accurate pricing.