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.
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota