There are currently 1300 residential homes for sale in Rochester, Minnesota with an average list price of $224,643 (median $172,000) and an average market time of 141 days. Last week (April 19-25, 2010) according to the MLS (Multiple Listing Service) there were 69 new listings, up 44% from last year; 59 that went to pending, a 4% increas; and 17 that closed, down 47% from a year ago.
The 69 new listings and 7 that came back on the market had an average asking price of $181,039 (median $139,900) and $216,985 (median $179,900) respectively. Last week 9 listings canceled, 5 expired and 11 were extended. The 59 listings that went under contract to pending had an average asking price of $165,396 (median $142,900) and an average of 97 days on the market. The average sales price for the 17 homes that sold was $159,447 (median $134,000), 98.3% of the asking price, 96.4% of the original list price. These homes had an average market time of 80 days.