Monday Morning Market Update for Rochester, MN

Happy President’s Day!

We are moving right along into the spring selling market, regardless of what the weather is like outside.  There were 29 signed contracts on residential properties in Rochester, Minnesota last week (February 11 to 17, 2011), up slightly from the same time last year.  These homes had an average list price of $154,674 and an average market time of 152 days.  Closings remained steady last week with the 13 homes that closed having an average list price of $172,687 and an average sold price of $167,093, 96.7% of the asking price and 92.1% of the original list price. New listings picked up last week, with 20% more residential properties coming onto the market than a week earlier, although this was a 16% drop from a year ago.  Last week’s 59 new listings had an average list price of $186,633.

Total active listings were down 13% last week compared to the same time last year.  There are currently 876 residential properties for sale in Rochester, Minnesota with an average list price of $207,777 and an average of 200 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.

Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota

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