Spring has sprung in the Rochester Minnesota area real estate market. With 77 new residential listings and 51 signed contracts last week, the Rochester Minnesota residential real estate finished February stronger than it has in several years.
Last week’s 51 homes that went under contract represented a 76% increase year over year. Average asking price for these homes was $203,241; average market time was 123 days. The 77 new listings had an average list price of $205,001.
There were 37 closings last week, bringing the total closings for the month to the highest February total we’ve seen in the Rochester area since 2008. While the number of closings represented an 11% increase over last year, the total sold volume increased 16% year over year.
There are currently 701 active residential listings in Rochester, Minnesota. These properties have an average list price of $212,050 and average 154 days on the market.
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota