Residential home closings in the Rochester area were up 72% last week (September 17 to 23, 2010) over a year ago with 31 homes that closed. These homes had an average market time of 105 days. The average sold price of $178,286 was 97.3% of the list price, 91.7% of the original asking price.
There were half as many new listings last week compared to a year ago. The 24 new listings had an average list price of $192,575. There were 23 listings that went under contract, down a third from last year. The pended listings had an average market time of 110 days and an average asking price of $175,447.
There are currently 1095 homes for sale in the Rochester, Minnesota with an average asking price of $221,712 and an average of 186 days on the market.