Every town around the Triangle is officially in a seller's market with some towns reaching critical levels.
When us Realtors talk about "months of inventory" what we're really talking about is how much the current inventory will last if nothing new hits the market. Fingers crossed, that won't ever happen, but it's an excellent way to measure buyer demand.
6 months is a balanced market. That means there's enough inventory for buyers to look elsewhere if they can't make one particular home work but not so much that they have too many options.
More than 6 months of inventory is a glut. There's plenty of other homes to move on to and it's a buyer's market.
Now, every single town around the Triangle is well into seller's market territory, meaning that the seller can control the transaction.
Even inventory rich Chatham County is having trouble keeping up with demand and some towns like Holly Springs, Cary, and parts of Durham are critically low on housing stock.