Monday Morning Market Update for Rochester, MN

Between the snow and the season the Rochester, MN area real estate market moved along slowly last week (December 10 to 16, 2010) at a comparable level to a year ago.  There were 14 signed contracts and 18 closings last week, with 17 homes coming onto the market.  There were 905 active listings last week, down slightly from a year ago.

Average list price for the 17 new listings was $181,482; average for the homes that went under contract was $254,342. The 18 homes that closed last week had an average sold price of $187,213, 95% of the asking price, 88.4% of the original list price.  Average market time for these homes was 143 days.  There are currently 859 homes for sale in the Rochester, Minnesota with an average asking price of $203,276 and an average of 209 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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