The Real Estate Market is Improving for Sellers in Rochester Minnesota!

By
Real Estate Agent with Counselor Realty of Rochester
 

Recently I showed some homes to a couple of new buyer clients of mine here in the Rochester, MN real estate market.  I had not looked in the price category they were in for a couple of months but I thought there would be more homes to look at since spring had now sprung.  It didn't take very long to realize that the houses available in that price range were not as plentiful as they were this winter!  Hopefully for my buyers, something will come on the market that fits their requirements and also meets their desires soon.

In the meantime I decided to check the numbers, and sure enough there are less homes on the market than their were at this time last year and the median sale price has gone up.  Maybe Rochester's real estate market has hit rock bottom finally!

If anyone is interested in updated numbers please don't hesitate to call or email me for the current market statistics!  Any other market related questions are also kindly invited.

Here are the numbers for our latest completed month, April, 2012:

 

Summary Statistics

  Apr-12 Apr-11 % Chg 2012 YTD 2011 YTD % Chg
Absorption Rate 6.16 9.21 -33.12 5.6 8.04 -30.35
Average List Price $215,238 $205,886 4.54 $202,411 $195,444 3.56
Median List Price $167,650 $159,900 4.85 $161,000 $154,900 3.94
Average Sale Price $181,058 $180,399 0.37 $175,203 $171,821 1.97
Median Sale Price $151,000 $136,000 11.03 $151,000 $137,000 10.22
Average DOM 135 181 -25.41 137 162 -15.43
Median DOM 64 124 -48.39 83 113 -26.55

Sold Listings
  This Month Year to Date
  2012 2011 % Chg 2012 2011 % Chg
0-30k 1 2 -50.0 4 12 -66.7
30k-40k 3 4 -25.0 8 18 -55.6
40k-50k 1 8 -87.5 10 13 -23.1
50k-60k 2 2 0.0 13 10 30.0
60k-70k 4 1 300.0 17 8 112.5
70k-80k 4 5 -20.0 13 17 -23.5
80k-90k 3 7 -57.1 12 17 -29.4
90k-100k 5 8 -37.5 21 16 31.3
100k-120k 11 12 -8.3 33 38 -13.2
120k-140k 14 20 -30.0 50 47 6.4
140k-160k 27 12 125.0 65 25 160.0
160k-180k 9 11 -18.2 35 30 16.7
180k-200k 8 9 -11.1 26 30 -13.3
200k-250k 18 14 28.6 59 40 47.5
250k-300k 11 4 175.0 32 16 100.0
300k-400k 8 3 166.7 25 17 47.1
400k-500k 2 6 -66.7 10 12 -16.7
500k+ 3 7 -57.1 9 14 -35.7
Totals 134 135 -0.7 442 380 16.3

Pending Listings
  This Month Year to Date
  2012 2011 % Chg 2012 2011 % Chg
0-30k 0 1 -100.0 2 6 -66.7
30k-40k 2 2 0.0 9 18 -50.0
40k-50k 6 3 100.0 12 14 -14.3
50k-60k 5 2 150.0 16 15 6.7
60k-70k 1 1 0.0 13 9 44.4
70k-80k 6 7 -14.3 18 19 -5.3
80k-90k 5 7 -28.6 18 20 -10.0
90k-100k 6 5 20.0 25 28 -10.7
100k-120k 25 10 150.0 57 48 18.8
120k-140k 38 31 22.6 88 81 8.6
140k-160k 39 29 34.5 105 64 64.1
160k-180k 24 27 -11.1 64 68 -5.9
180k-200k 23 12 91.7 59 54 9.3
200k-250k 29 18 61.1 92 51 80.4
250k-300k 16 10 60.0 45 28 60.7
300k-400k 13 9 44.4 41 25 64.0
400k-500k 8 4 100.0 15 12 25.0
500k+ 4 5 -20.0 15 19 -21.1
Totals 250 183 36.6 694 579 19.9

Active Listings
  This Month Year to Date
  2012 2011 % Chg 2012 2011 % Chg
0-30k 1 1 0.0 3 8 -62.5
30k-40k 3 8 -62.5 12 26 -53.8
40k-50k 6 13 -53.8 18 28 -35.7
50k-60k 8 14 -42.9 23 34 -32.4
60k-70k 13 17 -23.5 31 30 3.3
70k-80k 24 37 -35.1 46 63 -27.0
80k-90k 24 42 -42.9 51 67 -23.9
90k-100k 36 38 -5.3 67 77 -13.0
100k-120k 77 109 -29.4 145 182 -20.3
120k-140k 115 157 -26.8 209 254 -17.7
140k-160k 100 150 -33.3 211 223 -5.4
160k-180k 80 103 -22.3 157 171 -8.2
180k-200k 50 72 -30.6 112 132 -15.2
200k-250k 102 120 -15.0 196 190 3.2
250k-300k 61 70 -12.9 113 108 4.6
300k-400k 81 103 -21.4 140 130 7.7
400k-500k 32 40 -20.0 49 53 -7.5
500k+ 37 49 -24.5 57 71 -19.7
Totals 850 1143 -25.6 1640 1847 -11.2

New Listings
  This Month Year to Date
  2012 2011 % Chg 2012 2011 % Chg
0-30k 1 2 -50.0 3 6 -50.0
30k-40k 3 1 200.0 9 13 -30.8
40k-50k 2 4 -50.0 10 7 42.9
50k-60k 3 3 0.0 13 12 8.3
60k-70k 5 2 150.0 15 15 0.0
70k-80k 8 11 -27.3 15 32 -53.1
80k-90k 8 4 100.0 22 29 -24.1
90k-100k 5 9 -44.4 36 32 12.5
100k-120k 19 22 -13.6 81 86 -5.8
120k-140k 39 38 2.6 126 136 -7.4
140k-160k 31 38 -18.4 142 139 2.2
160k-180k 26 28 -7.1 109 113 -3.5
180k-200k 20 16 25.0 76 69 10.1
200k-250k 24 30 -20.0 117 112 4.5
250k-300k 16 17 -5.9 71 57 24.6
300k-400k 24 14 71.4 76 67 13.4
400k-500k 10 6 66.7 32 30 6.7
500k+ 8 8 0.0 29 37 -21.6
Totals 252 253 -0.4 982 992 -1.0

 

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Derrick Guevremont

Rochester MN Homes for Sale
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