There are currently 1129 residential properties for sale in Rochester, Minnesota, 50% more than this time a month ago and 10% higher than a year ago. The average list price for these homes is $223,765 (median $174,900) and average market time is 150 days. Last week (March 1 to 7, 2010) there were 1146 homes for sale with an average list price of $222,932 (median $172,900) and 150 days on the market.
There were 112 new listings last week, an increase of 22% from last year according to the Multiple Listing Service (MLS), and 19 that came back on the market with an average asking price of $232,311 (median $172,900) and $185,278 (median $167,900) respectively. Nine listings canceled, 15 listings expired, and 15 were extended.
The 38 listings that went under contract last week to pending represented a 41% increase over last year and had an average list price of $160,309 (median $155,000) and an average of 155 days on the market.
There were 13 homes that closed last week, half as many as last year, with an average market time of 149 days. The average sold price of $150,119 (median $145,000) was 97.8% of the list price, 92.3% of the original asking price. Last year the homes that sold in the first week of March averaged 96% of the list price.