Selling a Home in Rochester MN
One of the best quotes we ever heard from a seller was, “You start to sell your home the day you buy it.” Rochester is a great place to buy a home and sell a home.
What Makes Rochester Great
Due to the stability of its largest employer, the Mayo Clinic, Rochester’s economy is strong and growing. This is one of the most substantial reasons Rochester has been ranked as one of the top ten places to live by Livability.com and is consistently recognized by CNN’s Money Magazine as a great place to live.
Since Mayo has announced the expansion of its Rochester campus (an estimated $5 billion investment), Rochester is set for another growth spurt. New builds are rising and Rochester expects to welcome up to 30,000 new residents—all coming to Rochester to fill the new jobs created by Mayo.
This means there are people out there looking to buy a home, and more (approximately 30,000 in the upcoming years) will be coming.
What’s the Rochester Housing Market Like?
Is it a good time for selling a home in Rochester MN? “The real estate market in southeast Minnesota saw strong gains in nearly every indicator in 2015,” according to the Southeast Minnesota Association of Realtors Market Report. You’ll also find in the report:
- Homes sales in 2015 increased by 7.5%
- Inventory has been dropping consistently over the last three years
- Number of days a house spends on the market has decreased by 10% to 84 days on average
- Median sales price has increased by 7.9% to $156,050 since 2014
- The residential market has increased by 4.3% since 2014 and is poised for continued growth
This is all great news when it comes to selling a home in Rochester MN. The market is confident, median prices are rising and inventory is shrinking, meaning that you’re home isn’t likely to spend more than three months on the market and you’re likely to get a great price.
Want to know what the market looks like right now? Check out Rochester’s current Housing Market Trends.
What’s Involved in Selling a Home in Rochester MN?
Some common questions we hear from home sellers include the following:
- What kind of improvements will I need to make? What if I don’t have a large improvement budget? Do I have to make improvements?
- Should I wait to sell my home?
- How do I set my asking price?
- How do I find an agent?
- What are some complications that delay the sale of my home?
- What can I expect of my agent?
Of course, we’re always available to answer any questions you might have about anything related to selling a home in Rochester MN. Contact us