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The August market reflected steady demand with some late-summer seasonality showing up around Labor Day. Buyers stayed active, and while sellers adjusted pricing early in the month, by September fewer reductions were needed.
August Snapshot
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Average New Listings per Week: ~164 (down from July’s ~182)
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Average Pending Sales per Week: ~201 (up from July’s ~189)
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Average Sold Homes per Week: ~149 (steady vs July’s ~150)
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Average Price Reductions per Week: ~152 (down from July’s ~168)
August vs. July – Key Trends
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Inventory Flow: Fewer new listings came to market in August compared to July, especially during the Labor Day dip. This tightening inventory is typical for late summer.
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Buyer Demand: Pending sales actually increased compared to July, showing that motivated buyers are still making offers despite fewer new homes.
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Closings: Sold homes stayed steady month-over-month, which means buyers are following through to close.
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Pricing Pressure: Price reductions eased compared to July, suggesting sellers are pricing more accurately and buyers are responding.
Takeaways
For Buyers:
Even with fewer new listings, demand stayed strong in August. Expect more competition on well-priced homes, but also know that late-summer sellers are more realistic on pricing.
For Sellers:
Pending sales outpaced new listings in August — a good sign that demand is absorbing inventory. If you’re planning a fall listing, take advantage of this balance. Position your home right from day one to avoid reductions and stand out as more listings come online.
