Rochester Minnesota Residential Real Estate Market Conditions – Monday Morning Market Update (08/20/2012)

Hard to believe summer is almost over and the kids will be heading back to school! The Rochester area housing market remains firmly where it’s been all summer with homes flowing steadily on and off the market. Nonetheless, there are nearly 20% fewer homes available for sale compared to a year ago.

There were 46 new residential listings in Rochester Minnesota last week with an average listing price of $165,718. The housing market saw 26 homes going under contract to pending with an average asking price of $154,421 and an average market time of 123 days.

There were 34 closings last week on Rochester area homes. Average sold price for these homes was $156,872; average market time was 68 days. There are currently 735 homes for sale in Rochester Minnesota with an average asking price of $216,399 and average market time of 132 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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