Although new listings outpaced signed contracts by almost 2 to 1 last week, the available inventory of homes continues to decline with just 649 residential homes currently for sale in Rochester, Minnesota. The average list price for these properties is $225,574; average market time is 132 days.
Last week’s 39 new residential listings in Rochester Minnesota had an average asking price of $186,943. The 22 homes that went off the market under contract to pending had an average price of $157,554 and averaged 182 days on the market.
There were 26 closings last week on Rochester area homes, exactly the same number as a year ago. Nevertheless, the sold volume, or total dollar cost for these properties, was up 40% for the time period (September 21 to 27) year over year. Average sold price for these homes was $212,306; average market time was just 85 days to signed contract.
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota