Slowdown in Existing Home Sales In Rochester

The bitter cold and snow apparently had an impact on home sales in the Rochester area at the start of this year. The latest statistics from the Southeastern Minnesota Association of Realtors show closings on sales of existing homes in the city were down over 14-percent in January compared to the same month a year ago. Pending sales were up about 2-percent, and the report shows the median sales price rose about 6-percent to $159,000 dollars in January. The average number of days home was on the market before selling dropped 27-percent from January 2013 to 86 days.