Rochester Real Estate Market - View Rochester Real Estate Market Trends in New Hampshire

Spring 2012 Market Update If you can qualify, now is an exceptional time to buy a home in Rochester. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 507-272-8018
Average Home Price	$150,000 - View Graph Trend

Average Price Compared to Last Year	Down 15-20%

Average Time on Market	More than 120 days

Best Selling Price Range	$100,000 - $149,000

Worst Selling Price Range	$300,000 - $349,000

Prices As % of Asking Price	85-90%

Existing Home Prices for the past 90 days are?	Decreasing

Market Trend	Increasing

Buyers’ or Sellers’ Market	More sellers than buyers

Buyer Activity for the past 90 days in Rochester is	Decreasing

Seller Activity for the past 90 days in Rochester is?	Decreasing

Multiple Offers?	Yes

Multiple Offers Commentary	When homes are priced right. Has happened to Sara and I several times this summer when we have found great deals with our buyers.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	40-45%

Is Financing Available For Qualified Buyers?	Yes

Comments on Financing For Qualified Buyers	Financing For Qualified Buyers: Different lenders have several different financing options. For example, right now Bank of America has a mortgage warranty free for the first year as one of it’s popular plans. In Rochester, MN, Merchant’s Bank has a 3.9% home improvement rate on homes purchased that already need to have money and work invested into them. This can be very useful for people buying distressed homes as many of the short-sale and foreclosure properties are commonly in need of some repair. MHFA and FHA have their own interesting plans. Call us for a list of options from different lenders.

Housing Inventory	Good supply - Some Prices

Inventory Comments	Days on market vary greatly in Rochester depending upon price range. For example between 100,000-119,999.99 there are 40 listings with an average DOM time of 156 days. Between 300,000-399,999.99 There are 88 active listings with an average DOM of 192. Between 400,000-499,999.99 the average DOM of the 30 active listings is 255 days.

Greatest Activity	First Time Buyers

Reason to Buy/Sell	Good economic news

Nearest Metro Area	Rochester

Housing Hot Spots	Rochester MN, Stewartville MN, Byron MN, Kasson MN, Hayfield, Grand Meadow, southeast Minnesota, Pine Island MN, Spring Valley MN,

Average Sold Price	$150,000 - View Graph Trend

Rochester Local News

Agent quarterly survey shows growing optimism toward a housing market recovery

End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.

Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.

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