Rochester Area Real Estate Market Update

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  Two listings were withdrawn, 23 canceled, 11 expired, and 31 were extended.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.

This entry was posted in Real Estate News and tagged , , , , , . Bookmark the permalink.