Metropolitan Statistical Area (MSA):
Rochester, MN is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Rochester, MN metropolitan statistical area (MSA) has seen some incredible real estate trends over the past few years. The housing market in this region has been booming, and there is no sign of it slowing down anytime soon.
One of the most notable trends in the Rochester MSA housing market is the rise in home prices. According to data from Zillow, the median home value in Rochester is currently $186,700, which is a 5.8% increase from last year. This trend is being driven by strong demand from buyers and limited supply of homes on the market.
Another trend that is worth mentioning is the decrease in days on market. This metric measures how long it takes for a home to sell once it is listed for sale. In Rochester, the average days on market has decreased from 77 days in 2016 to just 54 days so far in 2017. This shows that homes are selling much faster than they were just a year ago.
If you are thinking about buying a home in Rochester, MN or any other part of the MSA, now is a great time to do so. Prices are rising and homes are selling quickly, so you will need to act fast if you want to get into this hot housing market!