Monday Morning Market Update for Rochester, MN

Last week (November 5 to 11, 2010) saw a large drop in signed contracts and closings in the Rochester area, most likely due in part to the holiday. There were 29 new listings, 15 homes under contract and just 9 closings.  According to the Multiple Listing Service (MLS) the total number of active listings last week was up 4% over the previous year. 

The 9 homes that closed last week had an average sold price of $197,188 – 98.3% of the asking price, and just 77.6% of the original list price.  Average market time for these homes was 348 days.  There are currently 945 homes for sale in the Rochester, Minnesota with an average asking price of $210,682 and an average of 198 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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