The Rochester area housing market finished March strong with 59 signed contracts last week (March 25 to 31, 2011), 18% more than the last week of March, 2010. New listings coming onto the market last week were down nearly 40% from a year ago, and edged out by the number going off the market under contract. All in all, a positive sign for the spring market.
The 53 new listings last week had an average asking price of $204,142. The 59 homes that went under contract averaged 129 days on the market and had an average list price of $183,986. There were 21 closings last week with an average market time of 177 days; average sold price for these homes, $157,007, was 96% of the asking price, 92% of the original list price.
Total active listings last week are down 16% from last year. There are currently1039 residential properties for sale in Rochester, Minnesota, averaging 166 days on the market and having an average list price of $214,301.
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota