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The five numbers that every home buyer or seller should be aware of are: Prices, Sales, Current Inventory, Interest Rates, and Affordability. Having a pulse of these five statistics will help keep you "in the zone" so to speak. Let's take a look at the most recent stats for these five areas for the Rochester, MN area.  Local Statistics are from July 2011. 

Home Sales Rochester:
July  2011 - 158
July  2010 - 89

Average Home Sale Price Rochester:
July  2011 - $205,508.00
July  2010 - $183,508.00

Monthly Absorption Rate Rochester:
July  2011 € 8.31 Months
July  2010 – 8.67 Months

Rochester Area Home Interest Rates as of August 2011:
Conventional 30 Year Fixed – 3.875%; down from last month
FHA/DVA 30 Year Fixed – 3.75 %; down from last month
USDA Rural Development – 4.25%; unchanged
MN Housing First Time Homebuyer – 3.75%; down from last month 
FHA 5-1 Adjustable Rate Mortgage – 3.25%; unchanged

Conventional 15 Year Fixed –  3.25%

Affordability Index Nationwide:
June  2011: Median Sales Price = $184,600; Interest Rate = 4.75%; Monthly Payment = $770.00; Payment as % of Total Income =15.00%.

June  2010: Median Sales Price = $183,500; Interest Rate = 5.02 %; Monthly Payment = $790.00; Payment as % of Total Income =15.50%.