Rochester MN Real Estate Update — Jan 1 to 7, 2007

There are currently 938 homes for sale in Rochester, Minnesota with an average list price of $245,506 and average of 185 days on the market. Last week (January 1 to January 7, 2007) there were 87 new and back on the market listings with an average list price of $250,708 and average market time of 133 days. During this same time period 24 homes went to pending (under contract). The average list price of these homes was $218,767 with an average of 153 days on the market. There were 20 closings in Rochester residential real estate last week, with an average price of $238,303 and 132 days on the market. Last week 36 listings expired; the average asking price was $270,497 with an average of 208 days on the market.