Low inventory expected to drive more Seattle holiday shoppers

Dec 5, 2013, 7:50 AM | Updated: Mar 4, 2016, 5:51 am

Tight inventory and the threat of rising interest rates could bring out more holiday home shoppers than usual this year.

“As we approach the holiday season when we typically experience the seasonal slowdown, the housing market is showing signs of stability and resilience,” said Mike Gain, CEO and president of Berkshire Hathaway HomeServices Northwest Real Estate in West Seattle. “Even though November’s new listings were up 10.1 from a year ago, and pending sales were up 1.6 percent, the lack of inventory is holding sales down.”

According to statistics from the Northwest Multiple Listing Service, the median selling price of a King County home in November was $414,000 compared to $385,000 a year ago. The number of closed sales across the 21 counties in the report outgained the volume of a year ago by 283 transactions, rising from 5,333 completed sales to 5,616 for a gain of 5.3 percent.

Many Seattle neighborhoods are still experiencing high demand for listings, said Gary O’Leyar, designated broker and co-owner of Prudential Signature Properties.

“Although the pace of the in-city Seattle market has leveled off somewhat, we are still seeing many instances of multiple offers due to high demand in several of the most sought-after neighborhoods,” O’Leyar said.

Gain said his company outlines advantages of listing a home during the holiday season. Among the benefits it cites are “decked halls look great,” “only serious buyers are out,” and “the process will be quicker.”


Ferry cancellations...
KIRO 7 News Staff

Washington State Ferries announce alternate Sunday schedules

Due to severe crewing shortages, the Washington State Ferries announced plans to operate an alternate service schedule on Sunday.
2 months ago
President Joe Biden speaks about COVID-19 vaccinations. (AP Photo/Susan Walsh)...
Alex Overall

Todd Herman Show Notes: 10.8.2021

Read and Catch up on the latest show notes brought to you by the Todd Herman Show on AM 770 KTTH
2 months ago
This image released by National Geographic shows Dr. Anthony Fauci at the NIH in Bethesda, Md., dur...
Alex Overall

Todd Herman Show Notes: 9.21.2021

Read and Watch the latest sources and news media related to the Todd Herman Show on AM 770 KTTH.
3 months ago
FILE - In this Wednesday, June 23, 2021, file photo, New York Gov. Andrew Cuomo speaks during a new...
Alex Overall

Todd Herman Show 7.28.2021

Stay up to date on all the top stories here on the Todd Herman Show on 770am KTTH
4 months ago
Alex Overall

Todd Herman Show Notes: 6.11.2021

Catch up on Todd Herman's source material used for the show right here.
6 months ago
Stephanie Klein

Two men shot Saturday in Seattle

Police say two people were shot Saturday evening in Seattle's Beacon Hill neighborhood.
6 months ago

Sponsored Articles


COVID Vaccine is a Game-Changer for Keeping our Kids Healthy

Snohomish Health District SPONSORED — Cheers to the parents and guardians who keep their kids safe and healthy. The dad who cooks a meal with something green in it, even though he’s tired and drive-thru burgers were tempting. The mom who calms down the little one who loudly and resolutely does NOT want to brush […]
Experience Anacortes

Coastal Christmas Celebration Week in Anacortes

With minimal travel time required and every activity under the sun, Anacortes is the perfect vacation spot for all ages.

Delayed-Onset PTSD: Signs and Symptoms

Lakeside-Milam Recovery Centers SPONSORED — You’re probably familiar with post-traumatic stress disorder. Often abbreviated as PTSD, this condition is diagnosed when a person experiences a set of symptoms for at least a month after a traumatic event. However, for some people, these issues take longer to develop. This results in a diagnosis of delayed-onset PTSD […]

Medicare open enrollment ends Dec. 7. Free unbiased help is here!

Washington State Office of the Insurance Commissioner SPONSORED — Medicare’s Open Enrollment Period, also called the Annual Election Period, is Oct. 15 to Dec. 7. During this time, people enrolled in Medicare can: Switch from Original Medicare to a Medicare Advantage plan and vice versa. Join, drop or switch a Part D prescription drug plan, […]

How to Have a Stress-Free Real Estate Experience

The real estate industry has adapted and sellers are taking full advantage of new real estate models. One of which is Every Door Real Estate.
IQ Air

How Poor Air Quality Is Affecting Our Future Athletes

You cannot control your child’s breathing environment 100% of the time, but you can make a huge impact.
Low inventory expected to drive more Seattle holiday shoppers