Rochester Minnesota Residential Real Estate Market Conditions – Monday Morning Market Update (1/14/2013)

Rochester, Minnesota area housing sales slowed slightly in the beginning of the year with just 13 signed contracts on residential properties last week. There were 29 new residential listings last week with an average list price of $211,176. The 13 homes that went under contract to pending last week had an average list price of $111,346 and average market time of 90 days.

Last week’s 14 closings had an average sold price of $168,899, 97.9% of the asking price and just 93.1% of the original list price. Average market time for these properties was 133 days.

The total number of active listings last week was 27% lower than a year ago, with just 465 homes currently listed for sale in the Rochester, Minnesota area. These homes have an average asking price of $215,681 and average 146 days on the market to date.

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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