Rochester Minnesota Residential Real Estate Market Conditions – Monday Morning Market Update

Rochester Minnesota area home sellers are seeing the attractions of the spring market as even more homes were listed for sale last week (March 2 to 8, 2012) than the previous week. There were 83 new residential listings in Rochester with an average asking price of $230,190.

The number of signed contracts was down almost 50% from the previous week, but the first week of March still had a respectable outcome with 27 homes going under contract. These homes had an average price of $192,909 and an average market time of 91 days on the market.

There were just 11 closing last week. The average sold price for these homes was $207,681 — 97.3% of the asking price and just 89.2% of the original list price. These homes averaged 284 days on the market.

There are currently 747 active residential listings in Rochester, Minnesota. These properties have an average list price of $214,161 and average 148 days on the market.

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 Realty, Licensed in the state of Minnesota

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