There are currently 1195 residential listings for sale in the Rochester, MN area according to the Multiple Listing Service (MLS). These homes have an average asking price of $233,594 (median $179,900) and an average market time of 151 days.
Last week (May 24 to 30, 2010) there were 36 new listings (down 18% from last year), 23 that went under contract (down a third), and 81 homes that closed (comparable to a year ago). The 36 new listings had an average list price of $228,115 (median $179,900); the 11 listings that came back onto the market last week had an average price of $182,218 (median $179,000). Two listings were withdrawn, 23 canceled, 11 expired, and 31 were extended.
The 23 listings that went under contract to pending had an average asking price of $207,436 (median $159,900) and an average of 89 days on the market. The 81 homes that sold (closed) had an average sold price of $169,458 (median $150,000), 98.5% of the list price, 93.3% of the original asking price. Average market time for homes closing last week was 113 days.