There were just 9 new listings last week (November 19 to 25, 2010), down 65% from a year earler, as the housing market took a slight break to observe the Thanksgiving holiday. There were 16 signed contracts, a 20% drop from last year and 17 closings, just 1/4 last year’s volume. Total active listings (953) were up 2% over a year ago.
The 17 homes that closed last week had an average sold price of $224,006, up 28% from last year and 96.1% of the asking price, 88.2% of the original list price. Average market time for these homes was 174 days. There are currently 902 homes for sale in the Rochester, Minnesota with an average asking price of $210,702 and an average of 206 days on the market.