Rochester Minnesota Residential Real Estate Market Conditions – Monday Morning Market Update (11/5/2012)

For the second week in a row, signed contracts edged out new listings in Rochester, Minnesota, causing available listings to dip below 600. There are currently 590 residential properties for sale in the Rochester area, with an average asking price of $226,073 and an average of 139 days on the market.

The 25 homes that found buyers last week and went under contract to pending had an average list price of $195,768 and an average of just 61 days on the market. Last week’s 20 new residential listings came onto the market with an average price of $168,660. The Rochester area housing market finished off October with a bang with 55 closings. The average sold price for these properties was $160,863 and average market time was 79 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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