NW Rochester MN Local Real Estate Market Statistics

By
Real Estate Agent with Counselor Realty of Rochester

NW Rochester MN Real Estate Market Statistics for February 2011

Summary Statistics
  Feb-11 Feb-10 % Chg 2011 YTD 2010 YTD % Chg
Absorption Rate 6.34 6.73 -5.79 6.15 6.31 -2.54
Average List Price $164,234 $178,149 -7.81 $162,176 $175,018 -7.34
Median List Price $149,900 $159,900 -6.25 $149,900 $159,900 -6.25
Average Sale Price $161,464 $145,499 10.97 $156,587 $153,036 2.32
Median Sale Price $154,500 $145,000 6.55 $139,000 $147,450 -5.73
Average DOM 138 156 -11.54 137 142 -3.52
Median DOM 96 77 24.68 96 93 3.23

 

NW Rochester MN Real Estate Market is showing good signs of recovery! Average Sale price is 2% higher than last year meaning sellers are getting better prices for their homes than they were at this time last year. This is also because people who are selling thier homes are listing them for 7% less than they did last year. This proves that by listing closer to the market price you can yield a higher sale price for your home. The higher homes are listed above the market value the longer they stay on the market and the less price they sell for. This is proved by the average days on the market is also down by 3.5% from last year and the inventory for homes is less than 7 months.

If you would like more information about your market statistics or homes sales in NW Rochester MN contact Dan Kingsley, The Real Estate Ranger, at 507-990-1721 or www.TheRealEstateRanger.com.

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