According to the Multiple Listing Service there are currently 1221 residential homes for sale in Rochester, Minnesota with an average list price of $234,874 (median $179,900) and an average of 150 days on the market.
Last week (May 17 to 23, 2010) there were 56 new listings (an increase of 37% over last year), 25 homes that went under contract (down 43% from last year) and 30 homes that closed (a 25% decrease from a year ago).
The 56 new listings and 12 that came back on the market had an average asking price of $221,968 (median $180,000) and $151,208 (median $139,900) respectively. Four listings expired, 21 cancelled, 17 extended.
The homes going under contract to pending averaged 88 days on the market and had an average list price of $154,429 (median $132,900). The 30 homes that closed (sold) last week had an average sold price of $175,604 (median $161,430), 97.5% of the list price, 94.5% of the original asking price. Average market time for these homes was 121 days.