Twin Falls County housing market dips in December | still better than 2016

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TWIN FALLS, Idaho (KMVT/KSVT) - The Twin Falls County housing market decreased in December from November, but numbers are still better than 2016.

Lynette Neibar, a Realtor with Coldwell Banker Canyonside Realty, said the Twin Falls County housing market is on the same trend as the national statistics.

"It's really common for the winter to kind of slow down. That's kind of the natural ebb and flow for real estate," Neibar said.

She said although December sales were less than other months in 2017, sales for the year overall were still better than 2016.

"We're doing less of an aggressive climb in December than the rest of 2017," she said.

Neibar said inventory is currently low, but that doesn't mean it's a bad thing.

"Now's a great time to put your house on the market. When inventory's high, it's a great time for buyers to have lots to choose from," she explained.

She said there are times in the summer when inventory is high, so that means it's good for buyers.

"It just kind of depends on where people sit in the market and what they're looking to do with their real estate needs," she said.

According to data from the Intermountain Multiple Listing Service, in December 2016, 87 homes were sold in Twin Falls County with 299 houses on the market. In December 2017, 101 homes were sold with 289 houses on the market.

Neibar explains that it depends on every Realtor as they are "independent contractors."

"We're not quite seeing the dip that we saw last winter," she said.

In the county, from 2016 to 2017, Neibar said there was a "huge bump in newly constructed homes as opposed to pre-existing homes."

"Pre-existing homes are up 10.84 percent, newly constructed homes are up 125 percent," she said.

While January is not over yet, she said they won't have the data until next month, however Neibar said she personally see's them listing more properties now that could possibly tie into New Year's resolutions.

"We're getting a lot of listings coming onto the market. People want to move on and move up, and we're getting a lot of buyers too," she continued. "People who have resolutions to stop renting and buy a home. It is emotionally driven, I think."

As the year goes on, Neibar thinks sales will continue steadily.

"I expect to see more listings come on the market, especially with the warming of the weather and that's just natural," she said.



 
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