Monday Morning Market Update for Rochester, MN

The Rochester, Minnesota residential real estate market showed some improvement in January with 30% more signed contracts than last year, despite 24% fewer new listings and 30% fewer showings than in January, 2010.  There were 49 closings in January, down 14% from last year.  The average sold price for these homes was down 13% from last year to $147,626.

Last week’s 28 pending listings had an average list price of $174,892 and an average market time of 120 days.  There were 60 new listings with an average asking price of $217,225.  The 14 homes that closed last week averaged 109 days on the market and had an average sold price of $133,867.

There are currently 832 residential properties for sale in Rochester, Minnesota with an average list price of $205,977 and an average of 208 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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