Rochester Minnesota Residential Real Estate Market Conditions – Monday Morning Market Update (07/30/2012)

The Rochester area summer housing market keeps moving right along with just as many homes coming onto the market last week as went off under contract. The available inventory of homes for sale continued to contract with just 730 residential properties currently for sale in Rochester, Minnesota with an average asking price of $215,796 and an average market time of 134 days.

Last week’s 44 new residential listings had an average listing price of $201,369. The 44 homes going under contract to pending had an average asking price of $175,527 and an average market time of just 98 days. There were 30 closings last week on Rochester area homes. Average sold price for these homes was $263,523, 99.5% of the asking price, 92.1% of the original list price. These homes had an average market time of 85 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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