Last week (May 3 to 10, 2010) there were 42 new listings and 41 listings that went off the market under contract, each representing a 1/3 drop from the same time period a year ago. The 32 homes that closed last week were a 78% jump from last year.
There are currently 1228 residential homes for sale in Rochester, Minnesota according to the MLS (Multiple Listing Service). The average list price for these homes is $232,714 (median $179,850) and the average market time is 144 days.
The 42 new listings and 19 that came back on the market last week had an average asking price of $238,847 (median $182,300) and $250,686 (median $219,900) respectively. Sixteen listings cancelled, 14 expired, and 14 were extended. The 41 listings that went to pending had an average price of $168,631 (median $149,900) and an average of 147 days on the market.
The 32 homes that closed last week had an average sold price of $160,715 (median $148,500), 97.5% of the asking price, 94.5% of the original list price. These homes had an average market time of 107 days.