Rochester MN Real Estate Update Week of Dec 11 to Dec 17, 2006

There are currently 968 homes for sale in Rochester, Minnesota with an average list price of $245,222 and average of 180 days on the market. Last week (December 11 to December 17, 2006) there were 44 new and back on the market listings with an average list price of $240,057 and average market time of 84 days. During this same time period 30 homes went to pending (under contract). The average list price of these homes was $185,352 with an average of 125 days on the market. There were 28 closings in Rochester residential real estate last week, with an average price of $173,032 and 125 days on the market. Last week 48 listings expired; the average asking price was $245,647 with an average of 125 days on the market.