Monday Market Update for Rochester, MN

Happy February!

According to the Multiple Listing Service (MLS) there are currently 881 homes for sale in Rochester, Minnesota with an average asking price of $224,438 (median $174,900) and an average of 177 days on the market.

Last week (January 25 to 31, 2010) there were 53 new listings and 16 that came back on the market.  Average asking price for these properties was $195,404 (median $179,900) and $220,029 (median $224,900) respectively.  Two listings were withdrawn, 12 canceled, 6 expired, and 28 were extended.

There were 27 homes that went under contract to pending last week. These homes had an average list price of $152,240 (median $144,900) and average market time of 83 days.  The 13 homes that sold (closed) last week had an average sold price of $171,784 (median $149,900), 97.6% of the list price, 95.2% of the original asking price.  These homes averaged 108 days on the market.

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