Market Conditions for Rochester Minn (week of June 2 through 8, 2008)

Last week (June 2 through 8, 2008) 59 new listings came onto the residential real estate market in Rochester, MN with a median list price of $174,900 and an average list price of $237,497. An additional 16 listings came back onto the market with an average market time of 181 days and average list price of $203,590 (median list price of $186,000).

Forty-five listings went to pending (under contract) last week. Average list price was $188,873 (median of $167,500) and an average of 134 days on the market. There were 51 closings (sold) with average market time of 87 days. The average sold price of $193,488 was 94.55% of the original list price, 98.46% of the list price ($196,519 avg.).

Last week, 19 listings expired, 18 cancelled, two were withdrawn, and 13 were extended.

There are currently 1140 residential properties listed for sale in Rochester, with an average list price of $241,057 (median $184,900) and an average of 155 days on the market.

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