Twin Falls, Idaho Real Estate Market Snapshot for December 2024
With 2024 behind us, the Twin Falls, Idaho real estate market ended the year with some exciting trends. Whether you’re thinking about buying your dream home or preparing to sell in the new year, understanding these trends can give you the edge you need. Let’s dive into the latest numbers and what they mean for buyers and sellers alike.
What You Need to Know About the Twin Falls County Market:
Number of Residential Sales
December 2024 saw 94 homes sold, a staggering 51.6% increase from the same time last year. Year-to-date, sales have climbed 10.1% compared to 2023—a clear sign that the Twin Falls market is alive and thriving.
•For Buyers: This surge in sales means competition is fierce. If you’re eyeing a property, be prepared to move quickly and make strong offers.
•For Sellers: More sales mean more demand! This is fantastic news for anyone considering listing their home. A hot market can lead to quicker sales and possibly multiple offers.
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Months of Inventory (MOI)
The Twin Falls, Idaho real estate market currently has 3.11 months of inventory, keeping Twin Falls in a seller’s market. While inventory remains tight, there’s a healthy balance that benefits both sides.
•For Buyers: While inventory is limited, it’s not impossible to find a home that is a great fit. Work closely with your agent to identify opportunities and act fast when you find “the one.”
•For Sellers: A low MOI gives you the upper hand. Buyers are motivated, and the right pricing strategy can help you make the most of this momentum.
New Listings
Newly constructed residential listings dropped by 21.7% compared to last year, and existing home listings were down slightly by 2%. That’s fewer homes coming onto the market, making every listing more valuable.
•For Buyers: With fewer homes available, patience and flexibility are your best tools. You may need to broaden your search or consider slightly older homes with charm and character.
•For Sellers: Fewer new listings mean less competition for your home. Now’s could be the time to shine—stage your home and price it competitively to stand out.
Average Sales Price
The average sales price hit $402,807 in December, marking an 11.8% increase year-over-year. Newly constructed homes came in higher at $440,569, while existing homes averaged $393,863.
•For Buyers: Rising prices can be daunting, but it’s important to see this as an investment in your future. Work with your lender to secure competitive rates and make a plan to maximize your buying power.
•For Sellers: Higher prices mean bigger returns. This is a great time to leverage your home’s equity. Focus on minor upgrades or staging to maximize your profit potential.
Days on Market
On average, homes spent 70 days on the market in December, compared to 64 days last year. Newly built homes took longer at 78 days, while existing homes averaged 68 days.
•For Buyers: Homes lingering a bit longer can be an opportunity for you to negotiate. However, desirable properties are still moving quickly, so stay alert!
•For Sellers: Don’t panic about slightly longer timelines. Buyers are becoming more deliberate, but a well-prepared home will still sell. Work with your agent to ensure your listing is positioned perfectly.
What It All Means for You
The Twin Falls, Idaho real estate market remains strong, with opportunities for both buyers and sellers. Buyers should be prepared to act quickly and decisively, while sellers can take advantage of strong demand and rising prices.
Whether you’re ready to make a move now or just starting to plan for the future, having the right partner by your side can make all the difference. Let’s make 2025 the year you achieve your real estate goals!
Ready to dive into the market? Contact Sabrina at Sabrina Sells Idaho for expert advice tailored to your unique situation.
*Statistics and data from IMLS.
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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