Monday Morning Market Update for Rochester, MN

Good morning!

The Rochester residential housing market continues along at its current adjusted level, down significantly from a year ago. Active listings were up 2% last week, total sold volume was down 10%. 

According to the Multiple Listing Service (MLS) the 20 homes that went under contract last week (October 1 to 7, 2010) had an average asking price of $143,760 and an average market time of 151 days.  The 27 new listings had an average list price of $151,264.  The 18 closings last week averaged 121 days on the market; the average sold price of $191,551 was 95.1% of the asking price, 89.2% of the original list price.

There are currently 1069 homes for sale in the Rochester, Minnesota with an average asking price of $218,465 and an average of 194 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.

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