Is Rochester Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Rochester Township has remained a Seller's Market.
Key Takeaway
Rochester Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rochester Township, MN
How much do homes in Rochester Township, MN cost?
Median Sold Price
$314,345
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Rochester Township have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Rochester Township was $314,345 in March 2024, up 1.4% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $119K | $135K | +13.4% |
| 2 Bedrooms | $225K | $226.4K | +0.6% |
| 3 Bedrooms | $270K | $275.2K | +2.0% |
| 4 Bedrooms | $358.1K | $368K | +2.8% |
| 5+ Bedrooms | $529.5K | $572.5K | +8.1% |
Summary: Rochester Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.4%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 8.1%.
Median Sold Price Compared To Nearby Cities
| Rochester Township | $309.9K | $314.3K | +1.4% |
| Rochester | $312.7K | $314.3K | 0.5% |
| Marion Township | $480K | $402.4K | -16.2% |
Housing Supply in Rochester Township, MN
How many homes are available in Rochester Township, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 450 | 554 | +23.1% |
Summary: The Rochester Township real estate market had 554 homes for sale in March 2024, a 23.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 83 | 89 | +7.2% |
| 3 Bedrooms | 116 | 139 | +19.8% |
| 4 Bedrooms | 166 | 231 | +39.2% |
| 5+ Bedrooms | 78 | 87 | +11.5% |
Summary: The Rochester Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 19.8%, 4 bedroom homes increased by 39.2%, and 5+ bedroom homes increased by 11.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 118 | 120 | +1.7% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
31 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rochester Township, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 120 homes were sold or pending in Rochester Township in March 2024, up by 1.7% month-over-month. Of the 120 sold homes, 34% were sold under asking, 26% were sold at asking, and 40% were sold over asking.
Days on Market for Rochester Township, MN
How long does it take to sell a home in Rochester Township, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 40 Days | 46 Days | +13.5% |
Summary: Homes in Rochester Township had an average of 46 days on market in Mar 2024, up by 13.5% compared to last year.
Breakdown of Home Sale Times
78 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rochester Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 120 homes were sold in Rochester Township; 65% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
