There were another 30 signed contracts on residential properties in Rochester, Minnesota last week, with the market continuing to plug along at a fairly consistent level for a while now. This represented a 36% jump over last year when home sales slowed considerably following the Home Buyer’s Tax Credit. It’s encouraging to see that without the stimulus this year, there has still been a steady stream of sales.
There were 32 new residential listings last week, staying steady from a year ago. Average asking price for these homes is $182,671. According to the Multiple Listing Service (MLS), the 30 homes that went under contract in Rochester, Minnesota last week had an average list price of $210,980 and an average market time of 132 days.
There were 33 closings last week on residential properties, 83% more than the same time last year. The average sold price of $200,037 was a 60% increase over the average selling price a year ago. These homes averaged 181 days on the market.
There are currently 940 homes for sale in Rochester, Minnesota with an average asking price of $207,247 and an average market time of 162 days.
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota