The Rochester, Minnesota residential housing market had its highest volume of signed contracts in March and April since a year ago. The 187 contracts in April were a third fewer than last April when home buyers were rushing to take advantage of the Home Buyer Tax Credit. Average asking price for the pending listings in April was $187,498; average market time was 125 days, the shortest market time the Rochester housing market time has seen since last May.
New listings through the first third of the year were down 20% from a year ago and had an average list price of $198,523. The 130 homes that closed last month had an average sold price of $180,365, up 2% from last April and 95.6% of the asking price, 87.6% of the original list price. Average market time for these homes was 176 days.
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Shawn Buryska ABR, CRS, GRI
Coldwell Banker Burnet Realty
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota