The last week of September saw pending listings and closings remaining fairly steady from a week earlier with new listings up 33% over the previous week. Nevertheless, closings were less than half as many for the same time last year; homes under contract and new listings were down more than a third.
According to the Multiple Listing Service (MLS) the 21 homes that went under contract last week (September 24 to 30, 2010) had an average asking price of $191,754 and an average market time of 118 days. The 32 new listings had an average list price of $176,600. The 29 closings last week averaged 130 days on the market; the average sold price of $164,046 was 95.4% of the asking price, 90.0% of the original list price.
There are currently 1042 homes for sale in the Rochester, Minnesota with an average asking price of $220,016 and an average of 188 days on the market.