Southeast Minnesota Association of Realtors Market Statistics Report 10/29/07
There are currently 944 homes for sale in the City of Rochester, with an average list price of $219,615 and an average market time of 161 days. 38 home sales closed in the past week, with an average list price of $164,339 an average SOLD price of $160,115 and an average market time of 121 days. 48 homes went sale pending, and 19 homes expired off the market. For more information on the current market in Rochester, read the entire report for the week ending 10/26/07.
The average days on market is creeping up slightly, but this isn't a surprise, given that we're coming in to Fall...and the Holidays (Yes, Christmas will be here all too soon!). We had a nice increase in homes that went sale pending, though...so hopefully it means that Sellers are beginning to come to terms with the current market conditions, and are making appropriate adjustments to their asking prices.
Have a great week!
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