Monday Morning Market Update for Rochester, MN

Good morning! The Rochester area housing market saw continued strong activity last week (March 18 to 24, 2011) with 44 homes going under contract, only slightly outpaced by the 55 new listings.

According to the multiple listing service (MLS), there were 24 residential closings in Rochester last week with an average sold price of $199,477 — 97.2% of the asking price and 91.2% of the original list price, a smaller gap than we had been experiencing up until the spring market.  These homes averaged 145 days on the market. 

The 44 homes with signed contracts last week averaged 151 days on the market and had an average list price of $160,598.  Average asking price for the 55 new listings was $221,752.

There are currently1044 residential properties for sale in Rochester, Minnesota, averaging 167 days on the market and having an average list price of $215,330. 

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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