As we continue through fall, Twin Falls County market values continue to increase and the market continues to evolve. Home sales remain steady, prices continue to increase, and home sales are continuing to happen daily. Whether you’re in the market to buy, sell, or just stay informed, here’s your update for September 2024.
What You Need to Know About the Twin Falls County Market:
Number of Residential Sales
In September 2024, 101 single-family homes were sold in Twin Falls County, a slight increase from the 99 homes sold in September 2023, marking a 2.02% growth. Sales of newly constructed homes saw a significant rise, with 20 homes sold compared to 13 last year, an impressive 53.85% increase. However, existing home sales decreased by 5.81%, with 81 homes sold compared to 86 in the previous year.
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Months of Inventory (MOI)
The number of active residential listings stood at 377 in September 2024, up from 351 in September 2023. The inventory increase reflects more available homes on the market, indicating a gradual shift towards a more balanced market.
New Listings
New inventory slowed down a bit this month, with only 135 homes hitting the market in Twin Falls County during September. As I mentioned last month, it’s typical for activity to taper off around this time of year. In September 2023, 160 new homes were listed, marking a 15.6% decrease year-over-year. With the upcoming election, it’ll be interesting to see how October’s numbers shape up.
Average Sales Price
The average sales price for single-family homes in Twin Falls County increased by 6.90%, reaching $407,904 in September 2024, compared to $381,590 in September 2023. For existing homes, the average price saw an 8.01% rise, reaching $399,013. However, newly constructed homes experienced a slight decline, with the average price falling by 3.93% to $443,912.
Days on Market
Homes are taking slightly longer to sell. The average days on market (DOM) for all homes rose to 68 days, compared to 65 days in September 2023. Existing homes are selling in an average of 53 days, slightly down from 55 days last year, while newly constructed homes are taking longer, averaging 130 days on the market.
The Twin Falls real estate market remains active with slight increases in overall sales and prices. While newly constructed homes take longer to sell, existing homes are moving quickly, indicating strong demand. With increased inventory, buyers have more options, and sellers still benefit from rising prices.
If you have questions about buying or selling in today’s market, let’s connect and discuss your unique needs. Stay tuned for next month’s market update!
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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