Massachusetts saw 6.09 percent fewer single-family homes hit the market in August than came online in September, according to new statistics released by the Massachusetts Association of Realtors.

At 5,954, that number was essentially flat compared to the 5,973 homes listed in August 2019, before the COVID-19 pandemic.

At the same time, MAR reported that total inventory for last month was 3.19 percent down from July. The 5,342 single-family homes for sale in August was 59.95 percent lower than inventory in August 2019.

With the frenetic pace of sales slowing slightly, with cumulative days on market rising to 25 and final days on market to 18 in August, up from 23 and 16 respectively in July, the total supply on the market inched upwards. However, the slight change was not enough to budge the number of months of supply in the market, which sat at 1.1 in both July and August.

On Cape Cod, 613 new single-family listings hit the market in August, compared to 668 in August 2019. And 152 condominiums hit the market compared to 176 in August 2019. Single-family inventory sat at 750 last month, while only 99 condos were for sale.

In Greater Boston, new listings were actually up in August: 1,235 single-family homes  compared to 1,066 in August 2019, and 1,066 condos compared to 897 in August 2019.

“It feels like we’ve been in a non-stop sprint for much of the past year, but the market is now getting a chance to catch its breath,” GBAR President Dino Confalone, an agent at Gibson Sotheby’s International Realty in Cambridge, said in a statement. “There’s been a bit of softening in demand over the past 8-10 weeks as some buyers have opted to take a break from the market due to affordability issues or to pursue summertime activities. Others have grown frustrated by the lack of inventory and chosen to renew leases or stay in their current home, and collectively that’s taken some of the air out of the market.”

The market remains a strong seller’s market, Confalone said, but most correctly-priced homes continue to sell quickly. MAR reported that the average single-family home spent just 23 cumulative days on market in August, and the average condominium spent 44 cumulative days in the same position.

New Single-Family Listings Ticked Down in August

by James Sanna time to read: 1 min
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