Last week (April 12 to 18, 2010), according to the MLS (Multiple Listing Service) 46 homes went under contract in Rochester, Minnesota, just one less than the same time period last year. Homes closed (sold) were down 30% from last year, with new listings up 14%. The total number of active listings for the week was 16% more than last year at this time.
The 74 new listings and 11 that came back on the market had an average list price of $223,630 (median $164,900) and $140,472 (median $124,900) respectively. Ten listings canceled, 6 expired, and 12 were extended.
There were 46 residential properties that went under contract to pending last week with an average asking price of $175,942 (median $162,900) and 119 days on the market. The 19 homes that closed had an average sold price of $157,264 (median $144,000), 97.4% of the asking price, 95% of the original list price. Average market time for these properties was 127 days.
There are currently 1309 homes for sale in Rochester with an average list price of $224,820 (median $174,500) and an average market time of 140 days.