The Rochester Minnesota area housing market slowed slightly last week with 20 signed contracts, 22 new listings, and 18 closings. The homes that went under contract last week (November 4 to 10, 2011) had an average asking price of $142,620 (median $142,200) and an average market time of just 69 days, indicating these homes were priced accurately from the outset. The new residential listings that came on th emarket last week had an average list price of $190,602 (median $152,937).
Rochester Minnesota’s 18 residential closings last week had an average sold price of $144,579 (median $140,999), 98.5% of the asking price and 93.9% of the original list price. All signs point towards a combination of proper pricing and a price range attractive to a broader range of buyers. Average market time for these properties was 123 days.
There are currently 748 active residential listings in Rochester, Minnesota with an average asking price of $205,296 and an average of 173 days on the market.
Shawn Buryska, Coldwell Banker Realty, Licensed in the state of Minnesota