Rochester MN Real Estate Market Blog

I’ve taken a new listing at 610 Berg Blvd SE Stewartville, MN 55976.  It is a 3 Bedroom, 2 bath ranch.  The listing number is 4022929 and the home info line number is 398610.  You can find all the details here.

I’ve taken a new listing at XXXX Quarry Ct NE Rochester, MN 55906.  It is a 2 acre building site with a 36×36 shed.  The listing number is 4015364 and the home info line number is 396040.  You can find all the details here.

The owner at 4537 Cornwall Dr NW Rochester, MN 55901 just reduced their price to $214,900!  This is a 4 bedroom, 3 bath split in Essex Estates.  Click here for more details.

The owner at 3030 Bandel Dr NW Rochester, MN 55901 just reduced their price to $169,900!  This is a 4 bedroom, 2 bath split in Bandel North.  Click here for more details.

The owner at 729 6^th St SW Rochester, MN 55902 just reduced their price to $268,000!  This is a 5 bedroom, 4 bath 3 story in Head & McMahon.  Click here for more details.

The owner at 1414 Century Point Ln NE Rochester, MN 55906 just reduced their price to $209,900!  This is a 3 bedroom, 3 bath walkout ranch in Century Point.  Click here for more details.

The owners at 1719 10th Ave SE Rochester, MN 55904 just reduced their price to $119,500!  This is a 4 bedroom, 2 bath split in Meadow Park.  Click here for more details.

Good morning!

The Rochester area real estate market picked up a little last week (July 9 to 15, 2010) over the previous week with 25 homes going under contract to pending and 14 closings, although that represents a drop of 31% from a year ago for pending listings and 60% for homes that closed.  New listings, although down 15% from a year ago, remained at about the same volume of new and back on the market as we’ve seen for the last several weeks.  New and back on the market listings continue to outpace those going off the market under contract, resulting in total active listings up 12% from a year ago. 

As a result of the increased inventory of homes for sale, the balance of power is shifting towards the buyers.  A year ago, the average sale price was 98% of the list price (not to be confused with the original asking price), whereas recently the average sale price is approximately 96% of the list price.  Accurate pricing from the beginning is imperative to a quicker sale and a better sales price.

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

I’ve taken a new listing at 4120 Glouster Ln NW Rochester, MN 55901.  It is a 3 bedroom, 2 bath split in Essex Estates.  The listing number is 4020806 and the home info line number is 391750.  You can find all the details here.

I’ve taken a new listing at 1828 2^nd St NW Rochester, MN 55901.  It is a 3 bedroom, 2 bath split  in West Zumbro.  The listing number is 4022696 and the home info line number is 398980.  You can find all the details here.