Rochester Minnesota Residential Real Estate Market Conditions – Monday Morning Market Update (10/15/2012)

New listings were equally matched by the number of homes going off the market with a signed contract last week in Rochester, Minnesota. The available inventory of homes currently listed for sale continues to contract with just 637 residential homes on the market in the Rochester area, with an average asking price of $229,585 and average market time of 136 days.

Average listing price for last week’s 25 new residential listings was $185,108. The average asking price for the 25 homes that went under contract to pending was $160,864. These homes had an average market time of just 79 days. Average sold price for the 15 homes that closed last week was $176,136, 98.0% of the asking price, 95.7% of the original list price. Average market time for these homes was 89 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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