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The five numbers that every home buyer or seller should be aware of are: Prices, Sales Volume, 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 close look at the most recent stats for these five areas for the Rochester, MN area. Local Statistics are from September 2011 unless noted otherwise.


Home Sales Rochester, MN:
September 2011 - 127
September 2010 - 116

Average Home Sale Price Rochester, MN:
September 2011 - $173,412.00
September 2010 - $184,892.00

Monthly Absorption Rate Rochester, MN:
September 2011 – 6.82 Months
September 2010 – 8.78 Months

Rochester, MN Area Home Interest Rates as of October 2011:
Conventional 30 Year Fixed – 3.875%; up from last month
Conventional 15 Year Fixed – 3.125%; up from last month
FHA/DVA 30 Year Fixed – 3.75 %; unchanged
MN Housing First Time Homebuyer – 3.625%; unchanged
FHA 5-1 Adjustable Rate Mortgage – 2.25%; down from last month

Affordability Index Nationwide:
August 2011: Median Sales Price = $168,400; Interest Rate = 4.69%; Monthly Payment = $698.00; Payment as % of Total Income =13.60%.

August 2010: Median Sales Price = $178,100; Interest Rate = 4.76 %; Monthly Payment = $744.00; Payment as % of Total Income =14.60%.