Rochester MN Real Estate Update (February 26 to March 4, 2007)

There are currently 1100 homes for sale in Rochester, Minnesota with an average list price of $249,568 and average of 168 days on the market. Last week (February 26 to March 4, 2007) there were 91 new and back on the market listings with an average list price of $191,913 and average market time of 31 days. During this same time period 36 homes went to pending (under contract). The average list price of these homes was $165,559 with an average of 76 days on the market. There were 43 closings in Rochester residential real estate last week, with an average price of $190,253 and 146 days on the market. Last week 67 listings expired; the average asking price was $229,699 with an average of 139 days on the market.