Monday Morning Market Update for Rochester, MN

Good morning!

There are currently 1013 homes for sale in Rochester, Minnesota, according to the MLS (Multiple Listing Service).  The average list price is $240,995 (median $179,900) and average market time is 155 days.

Last week (September 28, 2009 to October 4, 2009) there were 1091 residential properties for sale, an increase of 1% over a year earlier.  There were 42 new listings, a 50% increase over last year, with an average asking price of $190,966 (median $139,900).  Ten listings came back on the market, 21 cancelled, 34 expired, and 24 extended last week. 

According to the MLS 29 homes went under contract (to pending) last week in Rochester, MN, one more than the same time a year ago. These properties had an average list price of $218,813 (median $149,900) and averaged 88 days on the market.

There were 44 homes that sold (closed) last week in the Rochester area, 19% more than last year.  The average sold price of $168,445 (median $148,575) was 98.2% of the list price, 95.6% of the original asking price.  These homes averaged 103 days on the market.

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