Home sales continued on at a steady pace last week in Rochester, Minnesota with 18 signed contracts, similar to the previous week and the same time period a year ago. Although new listings continued to outpace signed contracts, with a third more homes coming onto the market than sold last week, the number of new listings was down nearly 40% from last year.
Last week’s 24 new listings had an average asking price $197,241. The 18 homes that went under contract had an average list price of $163,765 and an average market time of 119 days. There were 7 homes that closed last week; average market time for these properties was 129 days. The average sold price of $134,071 was 94.1% of the asking price, and just 88.6% of the original list price.
There are currently 797 residential properties for sale in Rochester, Minnesota with an average list price of $207,029 and an average of 216 days on the market.