Monday Morning Market Update for Rochester, MN

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.

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

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