Tuesday Morning Real Estate Update (August 28 to September 3, 2006)

There are currently 1123 homes for sale in Rochester, Minnesota with an average list price of $248,106 and average of 155 days on the market. Last week (August 28 to September 3, 2006) there were 74 new and back on the market listings with an average list price of $198,209 and average market time of 65 days. During this same time period 47 homes went to pending (under contract). The average list price of these homes was $193,915 with an average of 108 days on the market. There were 62 closings in Rochester residential real estate last week, with an average price of $209,365 and 117 days on the market. Last week 121 listings expired; the average asking price was $213,236 average of 114 days on the market.

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