At first glance, July’s numbers look very strong. The average sales price in the Charlotte region rose 7% compared with last July, and closed sales also increased.

But there is another side to the story.

Inventory is up, homes are taking longer to sell, and buyers have more choices than they did a year ago. Cumulative days on market increased to 54 days, while months of supply rose to 3.7 months.

One number I think is especially important is the difference between the average sales price, which increased 7%, and the median sales price, which increased just 1.1%. That tells us the market is still holding its value, but it does not mean every home has increased 7%.

My takeaway: Charlotte is still a healthy market, but buyers are becoming more selective. Sellers can absolutely still get strong results, but pricing, condition and presentation matter more than they did in a faster market. For buyers, the extra inventory and longer market times may create more opportunities to negotiate.