My takeaway: August gave us another good example of how this market can feel a little contradictory. The median sales price was up 2.5% from last year, and the average sales price was up 3.7%, so prices are still showing modest year-over-year growth. At the same time, closed sales were down 8.7%, homes took longer to sell, and inventory increased 7.1%. Buyers have more choices now, and they are clearly taking more time to make decisions.
For sellers, that means pricing and presentation matter more than ever. A home can still sell well, but buyers are less willing to overlook condition or stretch for a price that doesn’t feel justified. For buyers, the extra inventory and slower pace can mean more breathing room and, in some cases, more opportunity to negotiate. And while August was a slower month, year-to-date closed sales are down only 1.1%, so I would not read too much into one month alone. The market is still moving, just with a little more patience on both sides.
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