November 2011 Rochester MN Real Estate Market Report

Nov. 6, 2011 - PRLog -- Rochester, MN

November brings more than just hat and mitten weather to Rochester, MN. It also ushers in a real estate market that has increased its muscle flex since this same time in 2010. Rochester MN real estate experts David and Lois Marris of Keller Williams Premier Realty have compiled an easy-to-read  Rochester MN real estate market update and statistics report for those interested in buying or selling a home in the Rochester area.

Following are highlights of the report:
Overall, the Rochester housing market has improved in many ways following a strong September that saw an 8% increase in the number of homes sold. Average sales prices rose 2%, which is good news for sellers and nominal for buyers. Buyers also will be happy to know that interest rates remain exceptionally low at an average of 4.08% for a 30-year conventional loan.

Since 2010, the number of homes sold has increased overall by 5%, despite a 10% increase in days on the market. The number of Rochester homes on the market has decreased by 10%, lessening saturation of the market and potentially increasing competition and prices in the near future. By October’s end, over 1344 homes had been sold in Rochester, a jump from home sales in the early fall of 2010.

"Rochester continues to see a much stronger housing market than many other areas around the country," says REALTOR® Lois Marris. "Fall 2011 is an excellent time to buy or sell a home in Rochester, MN."

Data in the report was provided by the Southeast Minnesota Association of REALTORS® and presented in a convenient format by David and Lois Marris. The Marris Team highlights market strengths while giving no-fuss facts about sales rates, interest rates, and price fluctuations. If the time seems ripe to sell or purchase a home, or you'd simply like to learn more about Rochester MN real estate market conditions, contact the Marris team at 507-398-3251, Marris@KW.com  or visit http://davidandloismarris.com/market-reports.asp for a full and detailed market report. Perform a Rochester Home Search at http://www.davidandloismarris.com/home-search.asp.

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David and Lois Marris are top producing real estate agents in Rochester MN. Their team also includes Residential Home Buyer Rep Damon Doty and office staff. The Marris’ have been the top producing team in their company numerous times over the years and received many sales awards including their company’s Chairman, President, and Master Circle Club Award. Lois Marris has served on the Southeast Minnesota Association of REALTORS Multiple Listing Service Board as both a Director and Treasurer. She has also served on the Rochester Public Library Foundation Board of Directors as President, Vice-President, Secretary and Director. David Marris specializes in real estate investments and commercial real estate. Lois Marris and Damon Doty specialize in residential real estate. Lois Marris is a Certified Luxury Home Marketing Specialist (CLHMS) specializing in Rochester MN Luxury Homes.