Is Rochester, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rochester is a seller's market

Buyer's
Market

Difference Since April 2022

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.

How much do homes in Rochester, MN cost?

Median Sold Price

$304,989

$161/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2022

+$12,598(+4.3%)

Key Takeaway

Homes in Rochester have sold for 4.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2022Apr 2023%
1 $120K$121K
+0.8%
2 $210.7K$225K
+6.8%
3 $260.6K$270K
+3.6%
4 $330K$354.6K
+7.4%
5+ $486.2K$525K
+8.0%

Median Sold Price Compared To Nearby Cities

Cascade Township
+9.5%
Marion Township
+7.1%
Rochester
+4.3%
Rochester Township
-1.6%

How many homes are available in Rochester, MN?

Number of Homes For Sale

Mar 2023Apr 2023%
539606+12.4%

Homes For Sale By Bedroom Count

# BEDSMar 2023Apr 2023%
1 1011
+10.0%
2 94111
+18.1%
3 171184
+7.6%
4 171193
+12.9%
5+ 93107
+15.1%

Number of Homes Sold

Mar 2023Apr 2023%
133117-12.0%

Asking Price vs. Sold Price

47 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

48 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rochester, you could pay more than the asking price. 41% of homes here sold above asking price last month.

Average Sale Time

Apr 2022Apr 2023%
21 Days39 Days+82.0%

Breakdown of Home Sale Times

77 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

14 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Rochester are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Rochester, MN

There are 606 homes are for sale in Rochester, MN real estate market. Between March 2023 and April 2023, Rochester, MN real estate market has seen increase in the number of listings by 12.4%. Listings spent 39 days on the market in April 2023, and had a median list price of $304,989 during the same period. Real estate listing prices changed between March 2023 and April 2023: prices of 1 bedroom properties went up by 0.8%, 2 bedrooms properties prices increased by 6.8%, prices of 3 bedrooms properties went up by 3.6%, 4 bedrooms properties became 7.4% more expensive, prices of 5 bedrooms properties went up by 8%. Volume of homes for sale in this real estate market have seen the following changes: volume of 1 bedroom homes went up by 10%, volume of 2 bedrooms homes went up by 18.1%, volume of 3 bedrooms homes went up by 7.6%, the quantity of 4 bedrooms homes went up by 12.9%, number of 5 bedrooms homes increased by 15.1%. While more than 48 listings in Rochester, MN in April 2023 were sold above asking price, there were more than 22 listings sold at asking price, and more than 47 were sold below.

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