Real Estate Update for Rochester Minnesota (week of October 8-14, 2007)

There are currently 1276 homes for sale in Rochester, Minnesota with an average list price of $240,127 and average of 174 days on the market. Last week (October 8 to October 14, 2007) there were 64 new and back on the market listings with an average list price of $227,127 and average market time of 35 days. During this same time period 35 homes went to pending (under contract). The average list price of these homes was $169,063 with an average of 109 days on the market. There were 24 closings in Rochester residential real estate last week, with an average price of $157,983 and 68 days on the market. Last week 66 listings expired; the average asking price was $214,471 with an average of 113 days on the market.