Fewer houses for sale in SE MN means higher prices for buyers - KXLT - Fox 47 Rochester MN News, Weather, Sports #rochmn

Fewer houses for sale in SE MN means higher prices for buyers

Posted: Updated:
ROCHESTER, Minn. (FOX 47) -

    It's a seller's market in Southeast Minnesota.
Southeast Minnesota Realtors (SEMR) released the March 2017 housing market statistics.
    The numbers show houses in the area are more expensive than this time last year. The median sale price is up 10.6%  to close to $166-thousand.
    In Rochester the median sale price is even higher at $205-thousand.
    Right now there are also fewer houses on the market, and ones that are for sale are going quickly.
    In Southeast Minnesota the average number of days a house is on the market is 86 days.
    "Be ready to hear no," Karen Becker, Southeast Minnesota Realtors CEO said. "Occasionally you're going to find out only one person out of four or five will get the home so be ready that it might not be the first home you look at it it may not even be for the fourth home you look at but keep trying because eventually you will get the home of your dreams."
Becker says low inventory and escalating prices are not unique to our area. She says these trends are being seen nationwide.

For the full report: https://www.semnrealtors.com/media-resources/semr-market-focus-report.php

Powered by Frankly