Is selling your home in the winter a good idea?

For several reasons, some home owners decide to take their home off the market if it hasn't sold by November.  Not only is it cold and buyers seem to be far & few between, but the holidays are around the corner and sellers aren't as willing to keep their homes ready to go during the season.  But, is it really a good idea to take it off the market during the winter?  While some sellers may not have a choice, because of relocation or financial reasons, here are a few things to consider if you do have the option. 

1. There ARE still buyers looking for homes in the winter! Believe it or not, there are buyers always looking for homes, whether it is July or December, so you may miss out on those buyers if you take it off the market.

2. There is less inventory in the winter, which means less competition.  At the peak of the market, there were over 1,300 homes available in Boone County.  At the lowest point of inventory in January, there were only 980 homes on the market.  This is almost a 25% decrease in inventory!

3. Although the number of sales from November - February is about half of that from April - July, statistics show for the homes that do sell, Sellers aren't giving them away.  The average price for winter months is actually about $4,000 higher than in the summer months, at $179,500 vs. $175,600.  The price per square foot is actually identical in both the Winter & Summer at $84/sq ft. 

So, just because Old Man Winter is lurking around the corner, don't jump off the market...it just may be your lucky season!

JK