Buyers searching homes for sale in Twin Falls Idaho will find many single family homes available in the northern portion of the city. The median value of homes for sale in Twin Falls ID is between $150,000 and $200,000, and many of the homes boast between three and four bedrooms. With a population of more than 44,000 people, Twin Falls is a tight-knit community known for its small town feel. At the same time, there are many metropolitan services and amenities available in the city, making it an ideal place to call home.
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Twin Falls Idaho homes for sale are in high demand, as this city has grown by more than 20 percent since the year 2000. Buyers who are interested in homes for sale in Twin Falls Idaho enjoy the fact that they can live in a community with so many outdoor recreational options, including boating, fishing and hiking near the Snake River Canyon. Large lot sizes are common in this region, as the people who live here enjoy taking in the fresh air in their own backyards.
Twin Falls Residential unit sales between November 29th 2014 and May 29th 2015 were up to 415 home sales from 352 for the same period exactly one year prior. That is an increase of 18%. As one would expect in a shift to a seller’s real estate market, the average number of days that homes are staying on the Twin Falls market has continued to fall from 95 days in 2014 to 64 days in 2015 and 52 days in 2016. That is a decrease of almost 46% from 2014 through the end of 2016. The average home price has risen 6.5% from $154,550 to $163,133 in 2015 and $176,718 in 2016. These are all healthy signs of a robust Twin Falls real estate market.
Home inventory in Twin Falls ID across all new and 1-50+ year old homes was down to 4.3 months in 2015 and has fallen to just 2.36 months in 2016. The average inventory levels for new homes in Twin Falls, across all price ranges, was 2.3 months in 2016. A shortage in home inventory means fewer homes are available for sale. This is a trend that one expects to see in a seller’s market and will typically create upward pressure in prices, with more competitive offers and potential bidding wars, especially for homes with premium features.
A six-month home inventory is typically looked upon as a good balance between supply and demand. The lower the inventory levels for new homes coupled with rising home price trends can often present new market opportunities for homebuilders and an increase in new homes coming to the market, especially in the $150-$250,000 price range where inventory levels are lowest.
Existing home inventory data released by the National Association of Realtors shows that housing inventory in the USA, which peaked at over 4 million during the heights of the economic boom, has steadily declined to 1.89 million as of February 2015 and is at approximately 1.6 million going into 2017. This is the lowest they have been in the USA for over 36 months and represents an approximate 3.6 months of supply.
Twin Falls real estate inventory at 2.3months is now 50% less than the average national inventory levels and again is indicative of a shift to a seller’s market.
Many Twin Falls homes for sale were built in the last 15-20 years, confirming the growth that this dynamic community has experienced. In addition, homes for sale in Twin Falls Idaho include an attractive variety of different features, such as fireplaces, master suites and wrap around porches. Even people who don't work in this small town choose to purchase homes for sale Twin Falls Idaho, largely because this charming community is centrally located between Denver and Seattle. The city itself has quaint atmosphere, but it's also known as the central destination for medical services, commercial development and educational opportunities in the greater metropolitan region. Twin Falls is an idyllic community, filled with homes for sale that are full of character.
IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IMLS does not assume any liability for missing or inaccurate data. Information provided by IMLS is deemed reliable but not guaranteed.
Listing information last updated on September 29th, 2023 at 1:07am MDT.
