Monday Morning Market Update for Rochester, MN

The end of October and beginning of a new month brought more activity to the Rochester area residential housing market, with 30 new listings, 34 closings, and 32 homes going under contract. According to the Multiple Listing Service (MLS) the total number of active listings last week (October 29, 2010 to November 4, 2010) was up 5% over the previous year. 

The 34 homes that closed last week had an average sold price of $184,587, 96.9% of the asking price, 89.7% of the original list price, and an average of 146 days on the market, reconfirming the importance of accurately pricing properties from the start.  The 30 new listings had an average asking price of $142,136.  The 32 listings that went under contract last week averaged 140 days on the market and had an average asking price of $206,790.

There are currently 956 homes for sale in the Rochester, Minnesota with an average asking price of $213,367 and an average of 197 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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