Monday Morning Market Update for Rochester, MN

Although the Rochester area real estate market continues along at a third lower than a year ago, the number of signed contracts last week (September 10 to 16, 2010) was up 62.5% over the previous week.  New listings also increased last week with 34 new listings coming onto the market with an average asking price of $240,923.  There were 13 closings and twice as many homes that went under contract last week.

The average price for last week’s pended home sales was $178,003 and the average market time for these homes was 139 days.  There are currently 1,107 residential properties for sale in the Rochester area with an average of 182 days on the market and an average asking price of $221,182.

To view this past week’s area real estate activity, click here for new listings and click here for pended listings.

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