Monday Morning Market Update for Rochester, MN

Last week (November 12 to 18, 2010) the Rochester area housing market saw an uptick in activity over the previous week with 21 closings, 23 signed contracts, and 28 new listings.  New listings were up 75% over last year and listings under agreement were up 65%.   According to the Multiple Listing Service (MLS) the total number of active listings last week was up 5% over the previous year. 

The 21 homes that closed last week had an average sold price of $162,633, down 10% from last year and  95.3% of the asking price, 86.3% of the original list price.  Average market time for these homes was back down to 161 days.  There are currently 915 homes for sale in the Rochester, Minnesota with an average asking price of $210,635 and an average of 200 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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