Is Rochester, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
At the same time last year, Rochester was a Seller's Market.
Key Takeaway
Rochester is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices
How much do homes in Rochester, WA cost?
Median Sold Price
$479,900
$289/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Rochester have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Rochester was $479,900 in August 2023, down 1.1% from last year, and the median price per square foot was $289.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $350K | $402.4K | +15.0% |
| 3 Bedrooms | $485K | $475K | -2.1% |
| 4 Bedrooms | $550K | $615K | +11.8% |
| 5+ Bedrooms | $590K | - | N/A |
Summary: Rochester housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Bunker | $540K | $540K | 0.0% |
| Thurston South | $460K | $455.9K | -0.9% |
| Rochester | $485K | $479.9K | -1.1% |
Housing Supply
How many homes are available in Rochester, WA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 35 | 49 | +40.0% |
Summary: The Rochester real estate market had 49 homes for sale in August 2023, a 40.0% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 24 | 35 | +45.8% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Rochester housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 45.8%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rochester, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Rochester in August 2023, up by 14.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% were sold over asking.
Days on Market
How long does it take to sell a home in Rochester, WA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 24 Days | 32 Days | +30.3% |
Summary: Homes in Rochester had an average of 32 days on market in Aug 2023, up by 30.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Rochester are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 8 homes were sold in Rochester; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2023 Northwest MLS. All rights reserved.