Monday Morning Market Update for Rochester, MN

Halfway through March and we’re firmly in the spring selling season.  There are currently 997 homes for sale in Rochester, Minnesota  with an average asking price of $213,782 and an average of 178 days on the market.  The total number of active residential listings last week (March 4 to 10, 2011) was down 14% over the same time period last year.  The volume of showings continued to pick up the pace with 2253 showings of residential properties last week. 

Last week there were 80 new listings with an average list price of $230,857.  There were 22 signed agreements and 11 closings last week as well. The average asking price for the homes that went under contract was $213,713; average market time for these homes was 206 days.   Those that closed averaged 185 days on the market; the average sold price of $108,154 was 95.1% of the asking price, 88.6% of the original list price.

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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