Monday Morning Market Update for Rochester MN

Good morning!

There are currently 827 residential properties for sale in Rochester, MN with an average asking price of $229,803 (median $174,900) and an average of 186 days on the market. 

According to the MLS (Multiple Listing Service) there were 15 new listings last week (December 21 to December 27, 2009) an increase of 50% over the same period last week.  The new listings had an average asking price of $158,009 (median $156,935). Four listings came back on the market last week (average list price $387,287, median $144,900, average 246 days on the market), 6 cancelled, 12 expired, and 22 were exgtended.

The 10 homes that went under contract to pending last week in Rochester were 1 more than a year ago.  Average list price for these homes was $154,560 (median $150,000).  These homes had an average market time of 170 days.

There were 7 homes that sold last week, 1 fewer than a year ago.  The average sold price of $140,200 (median $149,000) was 97.1% of the asking price, 96.6% of the original list price.  These homes averaged 61 days on the market.

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