The Rochester area housing market continues to have a good summer with a steady stream of homes going off the market to pending and with the average price range for homes that do sell inching higher. The available inventory of homes for sale continues to contract, helping shift market power towards home sellers.
There were 50 new residential listings in Rochester Minnesota last week with an average listing price of $232,208. The housing market saw 37 homes going under contract to pending with an average asking price of $176,388 and an average market time of 100 days.
There were 53 closings last week on Rochester area homes. Average sold price for these homes was $212,586; average market time was 80 days. There are currently 728 homes for sale in Rochester Minnesota with an average asking price of $219,663 and average market time of 131 days.
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota