Signed contracts outpaced new listings last week (June 24-30, 2011) in the Rochester, Minnesota residential real estate market by nearly 25% and were up 8% over a year ago. These homes that went under contract had an average list price of $142,002 and an average market time of 129 days.
According to the Multiple Listing Service (MLS), the Rochester area new residential listings last week had an average asking price of $212,769. There were 67 residential home sales that closed last week in Rochester, Minnesota averaging 116 days on the market. The average sold price of $178,567 was 97.5% of the asking price and just 89.5% of the original listing price.
There are currently 951 homes for sale in Rochester, Minnesota with an average asking price of $209,537 and an average market time of 171 days.
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota