Rosemount Home Sales Continued To Struggle In February

Rosemount homeowners who were hoping for a bit of good news from the real estate market in 2011 will have to wait a bit longer. The Minneapolis Area Association of Realtors released their local market report for February and it shows continued weakness in the Rosemount real estate market.

The February numbers continued the trend seen in January of lower median sale prices, more days on the the market before a sale and a lower percentage of the original list price received.

According to the data, 21 Rosemount home sales were closed in February, compared to 15 in February 2010. But the median sales price plummeted nearly 30% year-to-year, dropping from $240,419 to $170,000. The number of days on the market before a sale also increased from 125 in February 2010 to 164 this year.

Karen Pearlman has been trying to sell her townhome for nearly six months and she said these numbers reflect her experience in the real estate market. "I have had a number of people looking at my townhouse, but very little serious interest," she said. "The few offers I have received have been well under the asking price. Buyers are looking for deep, deep discounts and that's tough for someone selling their home. I know I'm going to lose money, but I don't want to give my home away."

A PDF of the most recent home sales report from Rosemount is attached to this story.