Market Recovery?????

We believe that we are experiencing the beginning of a recovery in the residential real estate market. In the first five months of 2012, on a company-wide basis, our volume of completed home sales increased 12% compared to the first five months of 2011. According to NAR, in April 2012 existing home sale transaction volume increased approximately 17% as compared to April 2011. Furthermore, the most recent NAR forecast estimates that the volume of existing home sales will increase 12% for the year 2012 compared to 2011 and increase a further 10% in 2013.

Homes for Sale in Rochester Minnesota

Currently there are 817 homes for sale in Rochester MN.  Since the start of the New Year there have been over1200 homes put on the market.  According to MLS of those on the market, 329 have gone pending and a total of 707 homes have already been sold in 2012.  The Average Days on Market is right around 130 days.

If you are planning on putting your home on the market now is the perfect time.  According to Stats taking from MLS the number of homes up for sale is down compared to last year which means there are less competition and fewer homes for buyers to choose from.  The number of homes that are currently under contract or have already sold is up from last year which means there are more buyers out their looking for homes.  The average sales price is up from last year which great for sellers looking to gain a little more value from your homes sale.

Local Real Estate Stats.

Olmsted County Market Update for April 2012

	April 2012	April 2011	'11/'12 change
New Listings	299	296	+1%
Pending Sales	296	215	+37.7%
Active Listings	1,032	1,311	-21.3%
Avg. Days on Market	128	177	-27.68%
Median Sales Price	$151,000	$136,000	+11.03%
Average Sales Price	$180,352	$176,384	+2.25%
Months supply of Inventory	6.38	8.89	-28.23%

 

Information provided by FlexMLS based on data collected from the Southeast Minnesota Association of REALTORS® (SEMAR). This data is for Olmsted Country only.