Monday Morning Rochester Real Estate Market Update (Jan 12, 2009)

There are currently 800 residential properties for sale in Rochester, Minnesota with an average list price of $223,072 (median $174,900) and average of 185 days on the market.

Last week (January 5-11, 2009) there were 816 residential properties for sale.  Average list price was $224,025 (median $174,900) and average market time was 183 days.

There were 30 new listings last week with an average list price of $218,158 (median $177,000).  Twenty-three listings came back on the market; average list price for these properties was $261,795 (median $179,900) and average market time was 209 days.

The average list price of the 25 homes that went to pending (under contract) last week was $151,423 ($150,900).  These properties had an average of 112 days on the market.

Nine homes sold (closed).  The average sold price of $145,288 (median $118,000) was 97.52% of the list price (average $148,988/median $110,000), 93.81% of the original asking price.  Average market time to sold was 128 days.

Three listings were withdrawn, 7 canceled, 7 expired, and 30 listings were extended.

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