Rochester, Minnesota Real Estate Housing Market — Monday Morning Market Update

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. 

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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