Twin Falls Idaho Real Estate Market Update for April 11, 2024 from Twin Falls Realtor Stan Tobiason.

Here is the latest stats and latest real estate market update for Twin Falls Idaho as of 04/11/24. There are currently 315 Homes For Sale. Slightly over the 287 homes that were for sale this time last year.

In March 2024. 103 Homes Sold with a Median Sales price of $364,900. On average it took about 71 days to get an offer accepted and go pending. In March of 2023 110 homes sold with a Median Sales price of $350,381 and it took about 78 days to get an offer on a home.

So year over year Median Sales prices have gone up about 4% and 7 less homes sold.

So headed into the spring months we are looking like we are going to return to about 100 homes changing hands every month in Twin Falls County with the median sales price staying elevated around the $360,000-$370,000 range.

So what else is going on right now in the Twin Falls real estate market? We have seen a good amount of inventory start to come on the market in the last few weeks. Also buyers have started to become a little more immune to the higher interest rates and high prices, but shoppers are still making sure they are purchasing the best priced home that meets the needs for their family.

As of today April 11th, 2024. The average interest rate for a 30 year conventional mortgage is 7.37% in the United States on this day last year it was 6.52%. So for the near future it seems like rates are going to hang out in the mid 6’s-mid 7’s unless something drastically changes.

Since the start of the year about 20% of the homes that have sold in Twin Falls County have been all cash offers. That’s about the same as we were seeing at the start of last year.

The Magic Valley Builders Association Parade of Homes is coming up soon. This year’s event is June 14-16 & June 21-23. It’s a great opportunity to few some show case homes from builders featuring all the amazing things you can do with brand new construction.

If you want to get the process started of looking at homes for sale in Twin Falls or if you want to lean more about what the value of your current home is, please reach out to me at 208-280-9710 I am Stan Tobiason Your Superhero in Real Estate & Owner / Broker of Super Realty of Idaho, Inc.

For the latest Twin Falls Idaho homes for sale. Check out https://www.twinfallshomesforsale.com

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