The Rochester Minnesota area residential real estate market had another solid week last week with 22 signed contracts. While the number of pending listings was comparable to a week earlier, the average asking price for last week’s signed contracts ($200,075) was 25% higher than the previous week. Average market time, however, was twice as long for the homes going under contract last week compared to the week before.
The number of new residential listings in Rochester, Minnesota dropped off considerably from the previous week, but still remained strong for the beginning of the spring selling season with 39 homes coming onto the market between February 3 and February 9. Average list price for these homes was $216,156.
There were just 10 closings last week with an average selling price of $88,702, much lower than either the asking price or original listing price. Average market time for these homes was 134 days.
There are currently 637 homes for sale in Rochester, Minnesota with an average list price of $208,627 and an average of 169 days on the market.
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota