Rochester, Minnesota Residential Housing Market – Monday Morning Market Update

Promising signs last week in the Rochester, Minnesota residential real estate market. Despite the number of homes sold last week (June 17-23, 2011) being down 18% from a year ago, the dollar volume was only down 1%, with the volume of last week’s closings reaching $7,650,396.  The number of new listings and of homes going under contract were both down slightly last week from the previous week, but year over year, there were 25% more signed contracts last week than a year ago. 

According to the Multiple Listing Service (MLS), the 25 Rochester area homes that went under contract had an average asking price of $212,140 and an average market time of 124 days. Last week’s new residential listings  in Rochester, Minnesota had an average asking price of $171,611.

The 36 home sales that closed last week in Rochester, Minnesota averaged just 76 days on the market and had an average sold price of $212,511 — 99.8% of the asking price and 96.5% of the original listing price.

There are currently 992 homes for sale in Rochester, Minnesota with an average asking price of $209,372 and an average market time of 168 days. 

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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