Monday Morning Market Update for Rochester MN

There are currently 1027 residential properties for sale in Rochester, MN according to the MLS (Multiple Listing Service).  Last week (August 17-23, 2009) there were 1081 homes for sale, a 5% decrease from a year earlier.  There were 35 homes that went to pending (under contract) last week, an increase of 6% from a year ago.  Homes sold (closed) were down 29%, with 29 homes closed last week.  Average sold prices remain at 98% of the asking price, up one point from a year earlier.

According to the MLS, there were 44 new listings last week and 13 that came back on the market in Rochester, Minnesota.  Average list price for these properties was $218,421 (median $153,480) and $164,376 (median $158,000) respectively.  Sixteen listings were extended, 11 expired, 11 canceled, and 2 were withdrawn.  The 35 pending listings had an average list price of $170,046 (median $139,900) and an average of 86 days on the market.  The 29 sold properties had an average sold price of $153,344 (median $147,680) and average market time of 99 days.

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