Homes continued to sell well in Rochester, Minnesota with last week’s activity down just slightly from a year ago when we saw the end of the Home Buyer Tax Credit. Last week (April 29, 2011 to May 5, 2011) there were 58 signed contracts, 63 new listings and 50 closings on residential properties.
The 58 homes that went under contract last week had an average asking price of $175,681 and averaged 117 days on the market. The 63 new listings had an average asking price of $214,493. Average sold price for last week’s 50 closings was $174,384, 95.3% of the asking price, 90.0% of the original list price; average market time for these homes was 176 days.
According to the Multiple Listing Service (MLS) there are currently 1071 homes for sale in Rochester with an average asking price of $216,338 and an average market time of 159 days.
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota