Challenge: Why Haven’t You Bought One Of These Rochester Homes?
Why Are These 2 Rochester, Minnesota Pill Hill Homes Still On the Market?
Two homes, two very different looks, both in close proximity to the other (.2 miles or about a 1-minute walk) here in the Med City and they've been on the market a minute now.
Why Do You Think They Haven't Sold?
- Is it curb appeal? Neither one is unattractive, but neither are they popping off the street with a look that screams, "YES! ME!"
- The interiors are much fancier in the Blue House vs the White House (the kitchen looks fancier, with more room), but the White House has that awesome back yard, three-season porch space.
- Or, maybe, those things are what you and I notice, but really don't play as much of a role as we think.
What Do the Professionals Say?
According to the September 2022 Southeast Minnesota Realtors® (SEMR) Market Focus Report, New listings are down, and sales are down, but inventory and prices are up. And affordability issues are definitely playing a part,
Affordability challenges have priced many buyers out of the market this year, and buyers who do succeed in purchasing a home are finding that the costs of homeownership have increased significantly, with monthly mortgage payments more than 55% higher than a year ago, according to the National Association of REALTORS®.
Inventory remains lower than normal, and as the market continues to shift, experts project homes will begin to spend more days on market and price growth will slow in the months ahead." Continue Reading the Sept 2022 Rochester Real Estate Market Report)
Let's take a look at those homes again...
Pill Hill Starter Home Has Best Sledding Hill in Town in Its Back Yard
- This charming home comes with a second parcel that borders up to the Mayo Clinic/St Mary's Campus.
- With a three-tiered backyard, one could add a large firepit, a swimming pool, or a nice storage shed.
- With distinct beauty, this home could be used as an Airbnb, a rental or just as a large single-family home!
- There is so much potential with this home...as the sky is the limit.
Water Lovers Dream for Sale at $799,900 in Oronoco, Minnesota
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It's past November 1st, and the winter parking rules are in effect!
Parking rules in Rochester, Minnesota that you probably don't know
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