As we begin the last week of January there are 867 active residential listings in Rochester, Minnesota according to the Multiple Listing Service (MLS). The average list price for these properties is $223,938 (median $169,900), average market time is 172 days.
Last week (January 18-24, 2010) there were 53 new listings, an increase of 39% over the same time period last year; 14 homes that went under contract, a decrease of 48%; and 8 homes that closed, 1/2 as many as last year.
Last week’s 53 new listings and 33 back on the market listings in Rochester had an average asking price of $180,246 (median $155,000) and $187,963 (median $159,900) respectively. There were 33 listings that canceled, 11 expired, and 32 were extended.
The 14 listings that went to pending (under contract) last week had an average list price of $186,167 (median $159,900) and averaged 128 days on the market.
The average sold price of the 8 homes that sold (closed) last week, $173,231 (median $130,225) was 96.6% of the list price, 93.2% of the original asking price. Average market time for these homes was 153 days.