Rochester Minnesota Housing Market Update – February 2012

The Rochester, Minnesota residential real estate housing market is heading into the spring selling season with the most signed contracts for the month of January — as well as the most closings in the first month of the year — since January 0f 2008. Undoubtedly the annual changeover of medical professionals at Mayo Clinic helps support the market with new residents moving in each summer.

The 112 homes going under contract in January 2012 had an average list price of $177,014 and an average market time of 130 days. There were 84 closings in January with an average selling price of $169,992, 95.7% of the asking price, 87.7% of the original listing price. These homes averaged 158 days on the market to a signed contract.

New residential listings in the Rochester area, although down more than 10% from a year ago and at a fairly low level overall for the first month of the year, represented an increase of nearly 79% from the last month of 2011.  These homes had an average asking price of $197,787.

For the latest in local real estate stats make sure to check out

Shawn Buryska ABR, CRS, GRI
Coldwell Banker Realty

Shawn Buryska, Coldwell Banker Realty, Licensed in the state of Minnesota

This entry was posted in Real Estate News and tagged , , . Bookmark the permalink.