Rochester MN Area Real Estate Update (Week of 8/14/06 to 8/20/06)

There are currently 1149 homes for sale in Rochester, Minnesota with an average list price of $250,648 and average of 151 days on the market. Last week (August 14 to August 20, 2006) there were 72 new and back on the market listings with an average list price of $248,739 and average market time of 38 days. During this same time period 38 homes went to pending (under contract). The average list price of these homes was $205,558 with an average of 149 days on the market. There were 34 closings in Rochester residential real estate last week, with an average price of $193,581 and 142 days on the market. Seventy-nine listings expired; the average asking price was $204,717, average of 140 days on the market.