Real Estate Update – Rochester MN (February 12 to February 18, 2007)

There are currently 1042 homes for sale in Rochester, Minnesota with an average list price of $252,535 and average of 176 days on the market. Last week (February 12 to February 18, 2007) there were 75 new and back on the market listings with an average list price of $233,157 and average market time of 42 days. During this same time period 41 homes went to pending (under contract). The average list price of these homes was $165,549 with an average of 122 days on the market. There were 15 closings in Rochester residential real estate last week, with an average price of $160,339 and 153 days on the market. Last week 38 listings expired; the average asking price was $198,108 with an average of 117 days on the market.