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 2021

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

$290,311

$153/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2021

+$34,956(+13.7%)

Key Takeaway

Homes in Rochester have sold for 13.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2021Apr 2022%
1 $100K$120K
+20.0%
2 $190K$210K
+10.5%
3 $231.9K$260K
+12.1%
4 $299.9K$330K
+10.0%
5+ $410.5K$480.7K
+17.1%

Median Sold Price Compared To Nearby Cities

Marion Township
+21.5%
Rochester
+13.7%
Cascade Township
+12.8%

How many homes are available in Rochester, MN?

Number of Homes For Sale

Mar 2022Apr 2022%
495612+23.6%

Homes For Sale By Bedroom Count

# BEDSMar 2022Apr 2022%
1 811
+37.5%
2 82105
+28.0%
3 150173
+15.3%
4 171235
+37.4%
5+ 8488
+4.8%

Number of Homes Sold

Mar 2022Apr 2022%
122151+23.8%

Asking Price vs. Sold Price

32 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

102 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. 67.5% of homes here sold above asking price last month.

Average Sale Time

Apr 2021Apr 2022%
23 Days20 Days-14.6%

Breakdown of Home Sale Times

126 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

8 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

Rochester, MN has 612 homes for sale to choose from. Between March 2022 and April 2022, Rochester, MN real estate market has seen increase in the number of listings by 23.6%. In April 2022 median list price was $290,311 and the average listing age was 20 days. Real estate listing prices changed between March 2022 and April 2022: prices of 1 bedroom properties increased by 20%, the cost of 2 bedrooms properties went up by 10.5%, the cost of 3 bedrooms properties went up by 12.1%, prices of 4 bedrooms properties increased by 10%, 5 bedrooms properties prices increased by 17.1%. This housing market inventory have changed: the quantity of 1 bedroom homes went up by 37.5%, the quantity of 2 bedrooms homes went up by 28%, 3 bedrooms homes inventory increased by 15.3%, 4 bedrooms homes inventory increased by 37.4%, volume of 5 bedrooms homes went up by 4.8%. While more than 102 listings in Rochester, MN in April 2022 were sold above asking price, there were more than 17 listings sold at asking price, and more than 32 were sold below.

Related Housing Market Reports