Here are NE Rochester MN 2011 Monthly Statistics for February:
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Summary Statistics |
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| Feb-11 | Feb-10 | % Chg | 2011 YTD | 2010 YTD | % Chg | |
| Absorption Rate | 6.82 | 7.45 | -8.46 | 6.96 | 7.13 | -2.38 |
| Average List Price | $240,158 | $243,530 | -1.38 | $230,573 | $235,560 | -2.12 |
| Median List Price | $199,900 | $199,900 | 0.00 | $179,850 | $193,200 | -6.91 |
| Average Sale Price | $148,477 | $188,300 | -21.15 | $150,364 | $181,461 | -17.14 |
| Median Sale Price | $117,800 | $177,000 | -33.45 | $121,400 | $172,250 | -29.52 |
| Average DOM | 183 | 138 | 32.61 | 151 | 155 | -2.58 |
| Median DOM | 94 | 121 | -22.31 | 89 | 121 | -26.45 |
Overall we still see a drop in average and median prices of homes in the NE Rochester MN market. The good news is the inventory is being sold faster than it is comming on the market which is necessary for the the stability of the market. Also the Days that homes are on the Market is less. This means that when homes are hitting the market they are also selling in less time than the did last year. These are good signs that we are on the mend and we have already hit the bottom.
For more info about your specific market contact Dan Kingsley, The Real Estate Ranger, at 507-990-1721 or www.TheRealEstateRanger.com.
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