Rochester, Minnesota Housing Market — Monthly Update July, 2011

Through the first half of 2011, there were 934 signed contracts, up slightly from a year ago. There were 157 residential properties in Rochester, Minnesota that went under contract in June, 2011, a drop of nearly 18% from a month earlier, but up 34% from last year. Average list price for these homes was $195,466. Average market time  for homes going under contract in June, 2011 dropped to 120 days, two weeks shorter than in May and two-and-a-half weeks shorter than last June.

New residential listings through the first half of the year were down 16% compared to the first half of 2010. The 169 homes that came onto the market in Rochester, Minnesota in June, 2011 represented a drop of nearly 13% from a month earlier and a year over year decline of 6%. In June, 210 homes closed with an average selling price of $196,786; average market time was 117 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

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