Twin Falls Real Estate Market Snapshot: NOvember 2024
As we close in on the end of the year, the Twin Falls real estate market remains strong and competitive. Sales are up, inventory is tight, and home prices continue steadily climbing. If you’re considering buying, selling, or just staying informed, this update will give you the insights you need to make confident decisions in today’s market.
Let’s break down what happened in November and what it means for buyers, sellers, and anyone keeping a close eye on the Twin Falls housing market.
What You Need to Know About the Twin Falls County Market:
Number of Residential Sales
•Existing Homes: 74 homes sold, a 7.25% increase compared to last year.
•Newly Constructed Homes: 19 sales—up 58% from November 2023.
What This Means:
The market remains active, with more buyers stepping up despite seasonal slowdowns that typically happen around this time of year. What’s particularly interesting is the surge in new construction sales, showing that buyers are willing to pay a premium for modern features and move-in-ready homes.
Sellers: If you’ve been on the fence about listing, this steady demand is a clear green light. Buyers are out there, and they’re ready to make a move.
Buyers: Competition is still strong, so if you find a home you love, be ready to act quickly. Partner with an agent, get pre-approved, and make strong, realistic offers.
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Months of Inventory (MOI)
As of November 2024, Twin Falls is in a seller’s market, with a Months of Inventory (MOI) at 3.43. MOI measures how long it would take to sell all available homes if no new listings were added. A balanced market typically has 5-7 months of inventory, so this lower figure highlights strong demand and limited housing supply. With MOI down 10.68% month over month, homes are selling faster, putting sellers in a favorable position.
For buyers, this means acting quickly and preparing competitive offers. For sellers, it’s an opportunity to maximize returns. Twin Falls continues to show signs of a thriving real estate market.
New Listings
•New Construction Listings: 10 new construction homes hit the market.
•New Existing Listings: 61 new pre-existing homes hit the market.
Builders are doing their part to add inventory to the market, which is great news for buyers looking for modern layouts and energy-efficient options. However, the supply of existing homes remains limited, giving sellers the upper hand.
If you’re a seller with an existing home, the combination of low competition and high demand means you have an excellent chance of securing a great price and favorable terms.
Buyers, keep new construction on your radar—these homes often come with warranties, updated finishes, and more flexible timelines compared to existing properties.
Average Sales Price
•Existing Homes: The average price climbed to $399,452, a 9.17% increase compared to last year.
•New Construction: The average price hit $457,837, up 12.94% year-over-year.
The numbers don’t lie—prices are appreciating steadily. For sellers, this means you’ve likely gained significant equity over the past year. For buyers, it’s a signal to act sooner rather than later, as waiting could mean higher prices and potentially higher mortgage costs.
Sellers: This is a prime time to capitalize on your home’s appreciation. Listing now allows you to the opportunity to take advantage of strong buyer demand and rising values.
Buyers: If you’re on the fence, waiting may cost you. Home values are trending upward, so buying now could save you thousands down the road.
Days on Market
Existing Homes: Homes are selling in an average of 55 days—holding steady compared to last year.
•New Construction: The average sits at 109 days, giving buyers a little more breathing room.
What this tells us is that homes—especially existing ones—are still moving efficiently. For sellers, pricing your home correctly and making it show-ready can ensure you attract buyers quickly.
For buyers, if you’re considering a newly constructed home, you may have a bit more time to make a decision. Builders are also more likely to offer incentives like closing cost assistance or rate buy-downs to sweeten the deal.
Final Thoughts
For Buyers:
•Be ready for competition: Existing homes are selling quickly, and inventory remains tight. Work with your agent, get pre-approved, and act decisively.
•Explore new construction: Builders are adding inventory, and you may find incentives or less competition compared to existing homes.
•Don’t wait: Prices are climbing steadily. Buying now protects you from higher home values and potential mortgage rate changes.
For Sellers:
•Take advantage of low inventory: With fewer homes available, you’re in a great position to sell quickly and at a strong price.
•Price it right: A well-priced home attracts more buyers, potentially leading to multiple offers.
•Preparation matters: Staging your home, decluttering, and making small improvements can make a big difference in market time and offer quality.
The Twin Falls real estate market has remained strong throughout 2024, with rising sales, higher prices, and limited inventory creating a competitive environment. Sellers are in an excellent position to maximize their returns, while buyers need to stay prepared, decisive, and informed to succeed.
Whether you’re buying, selling, or just curious about what’s happening in the market, staying on top of trends can help you make the best decisions for your future.
If you’re ready to make a move or want more insights on how these trends affect you, don’t hesitate to reach out—I’m here to help you every step of the way.
Hi, I'm Sabrina!
I’m your local Twin Falls real estate agent and soon-to-be friend in real estate! Whether you’re selling or buying, I am here to help my clients achieve their real estate goals. Through strong client advocacy, skillful marketing techniques, exceptional communication, and proven systems, I strive to make my client’s experience as smooth and stress-free as possible.
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