August was an interesting month in North Carolina’s housing market.

Versus July, there were more listings, more sales, but the median sales price dropped a bit. Not what you’d expect.

However, one month does not make a trend and the more salient data is what continues to happen year to date. Versus August last year, there are fewer listings and sales. Prices are higher. This shows that sales are down because there aren’t enough homes to sell. Clearly, demand remains high, pushing prices up. Month’s supply, while slightly higher, remains solidly in the sellers’ market range.