Rochester Minnesota Real Estate Market Update – March 2012

Last month the Rochester, Minnesota residential real estate market saw its strongest February in years. Showings were up 24% year over year for the month of February as buyer interest begins to grow. Both signed contracts and home closings reached their highest levels in February since 2008, the second month in a row that the area housing market has seen this trend.

The 138 signed contracts in February 2012 had an average list price of $175,184; average market time for these homes was 128 days. February’s new listings were just shy of last year’s volume, with 226 homes coming onto the Rochester area housing market. Average asking price for these properties was $203,285.

February’s 97 closings had an average sold price of $175,906 – 97.9% of the asking price, 92.9% of the original list price. These homes averaged 114 days on the market.

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Shawn Buryska ABR, CRS, GRI
Coldwell Banker Realty

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

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