The Rochester, Minnesota spring market is plugging right along. Signed contracts in Rochester last week were down from the previous week, but were 11% more than the same time period a year ago. The 40 residential properties that went under contract had an average asking price of $184,692 and an average of 146 days on the market.
According to the Multiple Listing Service (MLS) there were 43 new listings last week (May 6 to 12, 2011). Average asking price for these homes was $201,937. Last week’s 25 closings had an average sold price of $142,497, 96.2% of the asking price, 91.3% of the original listing price.
There are currently 1066 homes for sale in Rochester with an average asking price of $218,415 and an average market time of 159 days.
Shawn Buryska, Coldwell Banker Realty, Licensed in the state of Minnesota