Brisk market conditions continued for another week into April with 63 new residential listings and 55 homes going under contract last week in Rochester, Minnesota. While new listings were down just lightly from a year ago, signed contracts were up nearly 30% year over year. More significantly, while the number of closings last week was up 47% compared to a year earlier, the dollar volume for these homes was actually up 83%.
Last week’s 63 new listings had an average asking price of $222,191; the 55 homes that went under contract had an average list price of $184,113 and averaged 105 days on the market to signed contract.
There were 28 residential real estate closings last week in Rochester, Minnesota with an average selling price of $218,241 (96.7% of the asking price, 90.9% of the original list price). Average market time for these properties was 156 days.
There are currently 821 active listings in Rochester, Minnesota, down slightly from last week, with an average price of $216,334 and an average market time of 131 days.
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota