Rochester Minnesota Residential Real Estate Market Conditions – Monday Morning Market Update (10/22/2012)

Homes are continuing to sell in the Rochester, Minnesota area, with decreasing average market times pointing towards right pricing as the key to finding the right buyer.

Average listing price for last week’s 39 new residential listings was $206,514. The average asking price for the 15 homes that went under contract to pending was $178,186. These homes had an average market time of just 72 days. The 25 homes that closed last week had an average sold price of $184,436, 97.0% of the asking price, 92.5% of the original list price. Average market time for these homes was 178 days.

There are currently 639 homes for sale in Rochester, Minnesota with an average asking price of $231,425 and an average market time of 137 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 Realty, Licensed in the state of Minnesota

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