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Homeowners continued to hold off from putting their homes on the market last month, putting a squeeze on buyers even as stabilizing mortgage rates appeared to draw more of the latter out of the woodwork, according to a trio of new data releases about the Massachusetts housing market.

The Massachusetts Association of Realtors reported only 4,221 new single-family listings and 2,263 new condominium listings in March, 22.7 percent and 24.8 percent fewer than in March 2022. That helped send the total supply of homes for sale last month down to 4,157 single-families and 2,444 condos, 16.3 percent and 17.7 percent drops, respectively.

At the same time, mortgage-demand data from Black Knight showed that Boston-area buyer interest rebounded in March after a slow winter. This, market-watchers have said, helped create an environment in many of Massachusetts’ real estate markets that continues to support multiple-offer situations – and even bidding wars in some cases – on properties that aren’t priced too high.

Across Massachusetts, 8.7 percent fewer single-family homes went under agreement last month but the median price of those pending sales rose 3.6 percent, according to MAR. The total volume of pending single-family sales fell by 12.9 percent.

Among condos, pendings fell 14.9 percent, but the median pending sale price rose 7.4 percent while total pending condo sales volume fell 16.9 percent, MAR said.

“We recognize the challenges homebuyers are currently facing in this competitive market,” David McCarthy, 2023 president of MAR and the operating partner at Keller Williams Boston|Metro, said in a statement issued by MAR along with its monthly data report. “We continue to stress the importance of creating more housing, particularly affordable housing, across the state to combat the inventory and affordability crises facing residents – issues that predated the more recent variables of interest and mortgage rate increases.”

Buyers’ and sellers’ reluctance to be active in the market over the winter showed, Banker & Tradesman publisher The Warren Group reported. Single-family sales that closed in March – most of which went under agreement in January or February – fell by 23.4 percent to 2,756, the fewest in any March since 2011. Condo sales dropped similarly quickly, by 22 percent to 1,955. But the median price of those closed single-family sales still rose by 4.9 percent to $540,000, while the median condo sales price in March jumped 7.5 percent to $500,000.

“A lack of inventory across Massachusetts continues to be the biggest factor in the declining sales volume. But when paired with rising interest rates and uncertainties about the economy, we can expect to see similar trends as the spring housing market starts to heat up,” Cassidy Norton, associate publisher and media relations director of The Warren Group, said in a statement. “[W]ith rising interest rates and single-family home prices setting new records, condos might be a slightly more affordable option for homeownership for prospective buyers across Massachusetts.”

Greater Boston offered some glimmers of hope to buyers, however, the Greater Boston Association of Realtors reported.

Numbers of active single-family listings jumped 17.8 percent compared to March 2022, to 1,206,and the number of active condo listings stayed nearly even on a year-over-year basis at 1,671.

Still, numbers of new single-family homes listed in March dropped 19.2 percent year-over-year, to 1,317, and numbers of new condo listings fell 25.9 percent to 1,379, raising questions about how much supply will greet buyers for the remainder of the spring. The average time both Greater Boston single-family and condo listings spent on-market continued to stay below 20 days, suggesting most homes aren’t lingering on the market long.

“Buyers can expect even more housing choices the further we get into the spring, but any inventory gains are likely to be modest. That should enable home values to remain firm and ensure that any future price changes are minimal,” said Alison Socha, the 2023 GBAR president and a Realtor with Leading Edge Real Estate in Melrose.