There was an uptick in the Rochester area residential housing market last week (October 8 to 14, 2010) with 32 homes going under contract, a third more than the previous week and just 9% fewer than a year ago.
According to the Multiple Listing Service (MLS), there were 37 new listings last week and 11 that came back onto the market. The 32 listings that went under contract had an average list price of $180,846 and an average market time of 165 days. There were just 13 closings last week with an average of 153 days on the market. The average sold price for these homes ($173,342) was 97.5% of the asking price, but just 90.1% of the original list price.
There are currently 1033 homes for sale in the Rochester, Minnesota with an average asking price of $218,065 and an average of 194 days on the market.