The Seattle real estate market median sales price is almost 11% higher than it was a year ago. There has been a significant decrease in housing inventory, despite many homes coming on the market, especially in the fall/winter of 2020. This is due to buyers flooding the market and buying up the current inventory, which has resulted in homes selling above the asking price and prices being driven up. The main driving factor for these buyers is the continued low-interest rates. We're seeing many first-time homebuyers and buyers making move-up purchases in this market, which should continue to be a strong trend in 2021.