June’s real estate market shows there is no slowing in site for home sales in Rochester, Minnesota. Every quadrant in Rochester was in a dead heat for days on market, (how many days it takes a home to sell).
36 days is the longest, on average, it took a home to sell in Rochester last month. That’s a staggering number.
Average list price and average sale price being the exact same number speaks volumes to the supply and demand teetering further towards the sellers’ benefit. Keep in mind this particularly awesome scenario applies mostly to sellers in the $250,000 and under bracket.
The Northwest quadrant of Rochester edged out the competition in terms of quantity of homes sold as well as how fast they sold. The average home in this area being in the most demanded price range speaks to these numbers.
Homes in the SE quadrant were more popular than they’ve ever been mainly due to newer developments as well as average list price.
Overall, the market is so hot right now due to the classic supply and demand issue happening in Rochester real estate right now.
Information deemed reliable but not guaranteed. Jenna Martindale | Realtor, Edina Realty | Lic Mn