The number of new single-family homes that hit the market in the Hartford area in August is down over the same month last year.

New listings decreased 7.7 percent (from 822 to 759) and inventory dropped 31.7 percent (from 1,864 to 1,273) between August 2020 and August 2021, the Greater Hartford Association of Realtors reported. Year-to-date, new listings are down just 2 percent, from 6,133 to 6,008.

At the same time, the average number of days on market for a single-family listing decreased 43.9 percent, from 41 to 23 days, due to continuing buyer demand.

Among condominium listings, the average days on market decreased 31.7 percent, from 41 to 28 days from August 2020 to August 2021. New listings decreased 10.3 percent from 223 to 200 over this time, versus a year ago.

“It’s typical to see a slow down of sales this time of year as schools start up,” GHAR CEO Holly Callanan said in a statement. “Until inventory begins to increase, prices are likely to remain on the high side.”

“Although we shouldn’t expect to see home prices drop in the coming months, there is a chance that they will level off as inventory continues to gradually improve,” National Association of Realtors Chief Economist Lawrence Yun said in a statement, referring to the national outlook. “In the meantime, some prospective buyers who are priced out are raising the demand for rental homes and thereby pushing up the rental rates.”