Monday Morning Market Update for Rochester, MN

Good morning!

There are currently 1054 active residential listings in Rochester, Minnesota.  Average list price for these homes is $220,936 (median $174,900), average market time is 161 days.

According to the MLS (Multiple Listing Service) there were 23 homes that went under contract to pending last week with an average asking price of $166,471 (median $151,550) and an average of 91 days on the marktet.  The 18 homes that sold (closed) last week had an average of 144 days on the market.  The average sales price for these homes ($202,338, median $168,750) was 99.8% of the asking price, 96.6% of the original list price.

The MLS reports indicate there were 69 new listings last week and 8 that came back on the market with an average list price of $203,797 (median $169,900) and $199,287 (median $209,900) respectively.  One listing was withdrawn, 5 canceled, 4 expired, and 15 were extended.

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