The Thanksgiving holiday weekend slowed the Rochester Minnesota area real estate market just slightly last week. New residential listings remained near recent levels with 29 homes coming onto the market with an average listing price of $158,676. Signed contracts were at exactly the same level as a year earlier with 17 homes going under contract to pending. Average asking price for these residential properties was $164,384. Average market time for the homes going off the market to pending was 103 days.
There were 28 closings last week, averaging 92 days on the market and having an average sold price of $213,959 (median sold price, however, was $152,450). Available inventory of homes for sale in Rochester, Minnesota continues to shrink with just 553 active residential listings at this writing. Average list price for these homes is $219,995; they average 135 days on the market.
Shawn Buryska, Coldwell Banker Burnet Realty, Licensed in the state of Minnesota