Monday Morning Market Update for Rochester, MN

Good morning!

There are 1082 active listings in the Rochester, Minnesota residential housing market with an average list price of $233,080 (median $179,900) and average market time of 150 days.

Last week (April 20-26, 2009) there were 48 new listings and 16 that came back on the market.  The average price for these properties was $212,120 (median $159,900) and $218,543 (median $149,900) respectively.  Three listings were withdrawn, 8 canceled, five expired and 11 were extended.

There were 44 homes that went to pending (under contract) last week.  These properties averaged 70 days on the market and had an average asking price of $156,494 (median $146,900).  The 19 homes that sold (closed) last week had an average selling price of $185,189 (median $146,900), 98.77% of the list price, 94.71% of the original asking price.  The average market time for these homes was 127 days.

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