The Rochester area housing market started off the New Year on a good note, with half again as many signed contracts in the first week of 2011 as in the last week of 2010. Although there were half as many closings in the first week of the year, the price volume was up 53% over the first week of 2010, with the 11 homes closed totaling $2,769,800.
There were 28 new residential listings in Rochester last week with an average list price of $162,191. The 18 phomes with signed contracts had an average asking price of $169,511 and average market time of 121 days. The 11 homes that closed had an average sold price of $251,800 and an average of 164 days on the market.
There are currently 809 residential properties for sale in Rochester, Minnesota with an average list price of $203,367 and an average of 210 days on the market.