Rochester housing market settling down

02/04/2006

Updated: 02-01-2006 07:12:40 PM

(KAAL)—The city of Rochester has been a hot bed of growth and progress for several years.

Now with a four year university and potential for a new commercial and retail center, even more people could be calling Rochester home.

For the past five years Rochester has been on the fast track. Now new home construction and the buying and selling in the housing market is starting to settle down.

Even though the overall market is settling, one thing that has continued to increase in Rochester is the number of homes going up for sale.

According to the most recent numbers there are nearly 1,000 houses for sale in Rochester alone, that’s over three hundred more from only two years ago.

It’s also taking longer for the homes to sell.  Realtors say the average time to sell is between 100 and 120 days.

Today they’re taking an average of 173. But realtors say that’s not all bad.

With growth in the northwest realtors say that’s the hot spot.

The hot selling types are split levels and two stories.

Realtors rate the current market as healthy and look forward to more health in 2006.

Realtors say the area’s employment levels have the biggest impact on what the housing market’s future.

They also say growth isn’t limited to Rochester. Cities like Albert Lea and Winona are also seeing good sales.

- Ericka Miller