Monday Morning Market Update for Rochester, MN

The Rochester, MN area real estate market continued along at a seasonal pace with 19 signed contracts last week and 10 closings, compared to a year ago when there were 16 signed contracts and 12 closings.  New listings (23) were down from a year ago (37), with total active listings for the week at 934, up 1% from last year.

Average list price for the 23 new listings was $134,019; average for the homes that went under contract was $158,205. The 10 homes that closed last week had an average sold price of $184,950, 94.2% of the asking price, 88.6% of the original list price.  Average market time for these homes was 143 days.  There are currently 872 homes for sale in the Rochester, Minnesota with an average asking price of $205,196 and an average of 206 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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