Rochester Minnesota Residential Real Estate Market Conditions – Monday Morning Market Update (07/23/2012)

There were almost as many signed contracts as new listings last week in the Rochester Minnesota residential real estate market, keeping the available inventory of homes way below last year’s volume. There are currently 758 residential properties for sale in Rochester, Minnesota with an average asking price of $213,368 and averaging 132 days on the market.

Last week’s 38 new residential listings had an average listing price of $243,736. The 37 homes going under contract to pending had an average asking price of $179,024 and an average market time of just 61 days. There were 47 closings last week on Rochester area homes. Average sold price for these homes was $208,157, 97.5% of the asking price, 91.8% of the original list price. These homes had an average market time of 112 days.

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 Burnet Realty, Licensed in the state of Minnesota

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