Data Suggests Region’s Real Estate Market ‘Stabilizing’
Rochester, MN (KROC-AM News) - There were more signs of a stabilizing residential real estate marketplace in southeastern Minnesota last month, but it remains a seller’s market.
The latest data on existing home sales compiled by the Southeastern Minnesota Realtors organization shows there was a nearly 8-percent increase in pending sales, while closings on existing home transactions were up 6.2-percent when compared to September of last year. The number of new listings was nearly steady, while the median sales price of existing homes sold in the region in September was up 6.5-percent from a year ago at $180,000.
In Rochester, there have been 1818 closings on existing homes sales this year. That’s down about 1.3 percent when compared to the first 9 months in 2016. The report shows the number of homes for sale is down over 4.5-percent, and the median sales price has climbed 12.3-percent to $220,000.
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