While the news you hear and read speaks loudly of the looming recession, economic downturn and poor real estate market; Rochester's real estate market has held strong. It is hopeful that Rochester's economy and real estate sector will not only be stable in 2008, but grow. The job growth predictions and the low interest rates will provide buyers the ability to hold good jobs and to afford homes.
A total number of 1674 single family homes sold in 2007 within Rochester city limits. While that number is not as high as 2006 sales (1769 single family units sold), the Rochester market still proves to be very stable.
Would you believe that 62% of the 1674 homes sold, were priced between $100000 and $200000? The next largest sales category was between $200000 and $300000 with 22% sold.
With 654 single family homes on the market as of today, it is hopeful that 2008 will bring buyers to the sellers and that Rochester's market will continue to be stable, prosperous and growing.
For some reason, I love numbers. Especially, statistics. I guess it provides pertinent information to events in the world, economy and life in general. I recently heard about this new website: www.city-data.com. You can look up most cities in the country and find out so much about the city, the demographics, the weather and many other interesting facts. I entered my current home location, Rochester, MN and discovered so much about this city that I never knew about. Check out the data for Rochester: http://www.city-data.com/city/Rochester-Minnesota.html
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