Tuesday Morning Market Update for Rochester MN (08/15/06)

There are currently 1126 homes for sale in Rochester, Minnesota with an average list price of $251,390 and average of 143 days on the market. Last week (August 7 to August 13, 2006) there were 61 new and back on the market listings with an average list price of $263,633 and average market time of 44 days. During this same time period 41 homes went to pending (under contract). The average list price of these homes was $206,753 with an average of 93 days on the market. There were 26 closings in Rochester residential real estate last week, with an average price of $188,458 and 67 days on the market. Fifty-eight listings expired; the average asking price was $251,973, average of 101 days on the market.