Median Sales Price of Rochester Homes Up 11% This Year
Rochester, MN (KROC-AM News) - There were some signs of stabilization in Rochester’s housing market last month, but across the region it remained very much a seller’s market.
The latest monthly market summary from the Southeastern Minnesota Association of Realtors shows the number of closing on sales of existing homes region-wide were off over 15-percent when compared to last August. Pending sales were down almost 5.5-percent and the median sales price climbed 11.5-percent to almost $186,500. The report also shows the number of homes for sale in southeastern Minnesota fell 15-percent from a year ago.
In Rochester, the number of homes available for purchase this year is up about 4.5-percent when compared to the first 8 months of last year. There were 1634 closings on existing home sales through August, a tally that is only about 1-percent below the total for the same time period in 2016. The number of new listings was steady, while the median sales price this year is up 11-percent at $220,000.