Rochester Minnesota Residential Real Estate Market Conditions – Monday Morning Market Update (2/4/2013)

The first month of the year finished strong with 51 homes coming onto the market and 31 signed contracts on Rochester, Minnesota area homes in the last month of January. Last week’s 51 new residential listings had an average list price of $188,193. The 31 homes that went under contract to pending last week had an average list price of $178,846 and average market time of 55 days.

Last week’s 30 closings had an average sold price of $168,189, 98.4% of the asking price and just 94.7% of the original list price. Average market time for these homes was 104 days.

The total number of active listings last week was down 17% compared to the end of January a year ago, with just 522 homes currently listed for sale in the Rochester, Minnesota area. These homes have an average asking price of $219,831 and average 138 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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