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Twin Falls County Real Estate Market Update: June 2024

Buhl, Buying, Filer, Kimberly, Relocating, Selling, Twin Falls / /

If you have had your eye on the real estate market and are considering moving near Twin Falls, ID, I have the latest news on what happened in June in the housing market. Keep reading to learn everything from the number of homes sold to market predictions, giving you a clear picture of what’s happening. Let’s dive in and see what the numbers reveal about our market!

What You Need to Know About the Twin Falls County Market:

Number of Residential Sales

In June 2024, Twin Falls County saw a total of 112 single-family homes sold, a slight decrease from the 121 homes sold in June 2023. This represents a year-over-year decline of 7.44%. Breaking it down further, 90 existing homes were sold, compared to 106 in June 2023, marking a significant decrease of 15.09%. Conversely, newly constructed home sales increased by 46.67%, with 22 homes sold compared to 15 in the same month last year. 

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Months of Inventory (MOI)

The months of inventory, a crucial indicator of market balance, reflects how long it would take to sell all current listings at the current sales pace. For June 2024, the total active residential listings stood at 339, up from 294 in June 2023. With the slower sales pace and increased listings, the MOI has slightly increased, indicating a shift towards a balanced market.

New Listings

In June 2024, there were 339 new residential listings in Twin Falls County, compared to 294 in June 2023. This increase in new listings, along with a decrease in sales, is providing buyers with more options and potentially greater negotiating power than they’ve seen in the last few years.

Average Sales Price

The average sales price for single-family homes in Twin Falls County saw a slight increase. For June 2024, the average price was $400,439, a modest rise from $383,202 in June 2023, reflecting a year-over-year increase of 4.5%. For existing homes, the average price increased by 3.28%, from $386,423 to $398,138. Newly constructed homes experienced a slight decrease in average price, down 2.27% year-over-year. However, this is likely because of a lot of new construction availble this year that is more budget friendly.

Days on Market

The average days on market (DOM) for homes in Twin Falls County varied between existing and newly constructed homes. Overall, homes sold in June 2024 had an average DOM of 49 days, compared to 67 days in June 2023, indicating quicker sales. Specifically, existing homes had an average DOM of 38 days, a reduction from 57 days the previous year. Newly constructed homes, however, took longer to sell, with an average DOM of 96 days compared to 111 days in June 2023.

The real estate market in Twin Falls County is showing signs of transitioning towards a more balanced market, with an increase in inventory and new listings, coupled with a slight decrease in the number of homes sold. Despite this, average sales prices remain relatively stable, and the days on market have decreased for existing homes, indicating that well-priced properties still attract quick interest. For those looking to buy or sell in Twin Falls, understanding these market dynamics will be crucial in making informed decisions.

Stay tuned for further updates and detailed analyses as I continue to monitor the trends in the Twin Falls real estate market.

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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Twin Falls County Real Estate Market Update: May 2024

Buhl, Buying, Filer, Kimberly, Relocating, Selling, Twin Falls /
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Do you live in Twin Falls or are interested in relocating here? Here is what happened in the Twin Falls housing market in May: Home sales surged throughout Twin Falls and the surrounding Magic Valley. With school out and summer almost officially here, the peak of the buying and selling season has arrived.  

Stay tuned to gain valuable insights that will help you develop a strategy for your moving goals and understand how the current market could affect you, whether you’re considering buying or selling in 2024.

What You Need to Know About the Twin Falls Housing Market:

Number of Residential Sales

Home sales skyrocketed in May with 120 homes sold in Twin Falls County. This number is up 23.71% from May 2023 and has helped balance out the overall number of sales year-to-date (YTD), bringing it to about even with last year. Despite national news reporting a dramatic decline in home sale numbers, here in Twin Falls County, we are down only about 1.53% in total sales so far, with a total of 452 homes sold YTD. Only time can continue to tell where we’ll be by the end of the year, but this is a good sign for our local market. 

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Months of Inventory (MOI)

With the influx of sales, we observed a slight increase in the Months of Inventory (MOI). We are still in a seller’s market, with approximately 3.37 months of inventory. The MOI is a reliable indicator of market health and trends. We have consistently seen the MOI remain below 4 months, often closer to around 3 months. This consistently shows that we don’t have enough inventory to meet demand, favoring sellers in the market.

New Listings

May was a significant month for new listings, with 207 new homes hitting the market in Twin Falls County. If you’re a buyer disappointed by the lack of available options, this might be the opportunity you’ve been waiting for. New listings in May increased by 48% from April 2024. Even better news for buyers: rates are nearly the lowest they’ve been in 30 days, and even begin with a 6. The Federal Reserve is meeting this month, and we can expect to learn more about where rates will head for the rest of the year.

twin-falls-housing

Average Sales Price

The average sales price year-to-date in May was $399,521, reflecting a 5.75% increase from May 2023 when the average sales price in Twin Falls County was $377,812.

Home prices vary significantly depending on which of the eight towns you live in. Generally, the further you are from the city of Twin Falls, the more affordable the home prices. For example, the average cost of a home sold in Buhl or Castleford in May was $314,967. The most expensive area to purchase in Twin Falls County is the Kimberly, Hansen, and Murtaugh area, with an average sales price in May of $496,872. This higher price is largely due to the vast amount of new construction in the area.

Days on Market

In May, the average days on the market (DOM) was 59, while the year-to-date average was 72. However, the median DOM for Twin Falls County in May was just 31 days.

Homes that are properly priced and marketed continue to sell quickly. While the market isn’t as fast-paced as it was during the pandemic, it remains highly competitive.

Please remember that this is general information and should be taken with a grain of salt. As always, I’m here to answer your questions. Feel free to reach out any time—I’d be happy to discuss your real estate goals and explore how we can achieve them together.

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.

LET'S GET STARTED →

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What You Need To Know Before Moving To Buhl, Idaho

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If you’re considering moving to Buhl, Idaho, it’s a great community located in Twin Falls County. However, there are a few things you should be aware of before making the move. Below are the top 5 things you should know before moving to Buhl. Keep reading to find out!

5 Things You Should Know Before Moving To Buhl:

The city of Buhl offers some of the most affordable housing options in Twin Falls County.

The city of Buhl provides comparatively more affordable housing options than some other areas in the Magic Valley. In 2023, the average cost of a home in Twin Falls County was around $376,000, whereas in the city of Buhl, the average cost was $342,505.

Buhl offers a variety of housing options, including new constructions, pre-existing homes, farms, and homes near the river. If you’re looking for an affordable area in Twin Falls County, Buhl is worth considering.

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Some houses in the area have access to geothermal water as their water source, and there are also several hot springs to visit.

Numerous homes in the Buhl area along the Thousand Springs Byway use geothermal water as their primary source of water for household use, pools, and hot tubs.

Miracle Hot Springs, Banbury Hot Springs, and Thousand Springs Resort all provide access to their communal pools and private rooms. These are fantastic places to decompress, unwind, and in the case of Banbury and Miracle, admire the scenic views. Apart from soaking in the hot springs, you can also find campsites, geo-domes for rent, spa services, kayak rentals, and other amenities.

If you work in Twin Falls and have to commute from Buhl, it is a bit of a drive at roughly 25 minutes each way.

If you live in Buhl and need to travel to Twin Falls for work, you should expect to spend around an hour daily commuting to and from your workplace. While this may not be too terrible for some, individuals who prefer having amenities nearby may consider Buhl a bit of a drive.

You can access local amenities like stores, restaurants, and healthcare facilities here. However, for more unique needs, you may have to travel to Twin Falls.

There are a lot of options for dining and entertainment in Buhl.

You will find an abundance of thriving local businesses based here. Buhl’s downtown is lovely, there are great views of the Snake River, and Buhl truly has so much charm. 

When in town, some of my top places to visit are Cloverleaf Creamery (even though they now have a spot in Twin Falls, it’s always fun to go to the original), Holesinsky Vineyard (they have amazing events year-round and some truly spectacular wines), and just walking Main Street to explore all the different shops.

Known as the Trout Capital of America, Buhl has several hatcheries producing trout that go all over the world.

There are a variety of fish hatcheries in Buhl, some of which even offer opportunities for the community to come view and learn about the process. You can find this trout featured in many local restaurants as well.

Whether you live here or are just passing through Buhl is a treasure to explore and enjoy, I hope you get an opportunity to visit soon!

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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.

LET'S GET STARTED →

Sign Up!

Get Monthly Updates

Join my Newsletter list to receive a monthly update on the real estate market, local news, upcoming events & other community-related content! 

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  • Coming soon…

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