$7,422 Closing Credit*
$624,990
2,786 SqFt
4 Beds
•3 Full Baths, 1 Partial
Listing Office: Lennar Sales Corp
Is Rochester, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Rochester has remained a Seller's Market.
Key Takeaway
Rochester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rochester, MN
How much do homes in Rochester, MN cost?
Median Sold Price
$325,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,861(+3.5%)
Key Takeaway
Homes in Rochester have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Rochester was $325,000 in November 2024, up 3.5% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $117K | $149.9K | +28.1% |
| 2 Bedrooms | $224.9K | $243.1K | +8.1% |
| 3 Bedrooms | $274.6K | $285K | +3.8% |
| 4 Bedrooms | $365K | $375K | +2.7% |
| 5+ Bedrooms | $550K | $585K | +6.4% |
Summary: Rochester housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.1%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 6.4%.
Median Sold Price Compared To Nearby Cities
| Marion Township | $379K | $445K | +17.4% |
| Rochester | $314.1K | $325K | +3.5% |
| Rochester Township | $314.2K | $325K | +3.4% |
| Haverhill Township | $924.9K | $677.5K | -26.8% |
Housing Supply in Rochester, MN
How many homes are available in Rochester, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 592 | 545 | -7.9% |
Summary: The Rochester real estate market had 545 homes for sale in November 2024, a 7.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 7 | -12.5% |
| 2 Bedrooms | 101 | 97 | -4.0% |
| 3 Bedrooms | 181 | 163 | -9.9% |
| 4 Bedrooms | 200 | 182 | -9.0% |
| 5+ Bedrooms | 102 | 96 | -5.9% |
Summary: The Rochester housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 4%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes decreased by 9%, and 5+ bedroom homes decreased by 5.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 155 | 106 | -31.6% |
Asking Price vs. Sold Price
48 Homes Were Sold
Under Asking
32 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rochester, you may be able to get a good deal. 45.3% of homes here sold below asking price last month.
Summary: A total of 106 homes were sold or pending in Rochester in November 2024, down by 31.6% month-over-month. Of the 106 sold homes, 45% were sold under asking, 30% were sold at asking, and 25% were sold over asking.
Days on Market for Rochester, MN
How long does it take to sell a home in Rochester, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 38 Days | +6.1% |
Summary: Homes in Rochester had an average of 38 days on market in Nov 2024, up by 6.1% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rochester are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 106 homes were sold in Rochester; 52% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
